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Showing 261 - 270 of 1233 results for "licensees"

Industry funding model discussion commences

JAMIE WILLIAMSON  |  FRIDAY, 30 SEP 2022
... types of regulated activity, like having two sub-sectors within financial advice - in place of four. One would be for licensees providing personal advice to retail clients on relevant financial products and the other would be those who do not. Other ...

More consolidation is needed, says Diverger chief

CASSANDRA BALDINI  |  WEDNESDAY, 28 SEP 2022
... "When I look back, one of the things that we got wrong was we didn't invest in the infrastructure for advisers and licensees to rely on," he said. "Our view at Diverger is that these challenges need to be solved and small advice businesses don't ...

ASIC updates remediation rules

CHLOE WALKER  |  TUESDAY, 27 SEP 2022
... consumer and industry stakeholder s. The updated guide provides a clear direction on remediations and is underpinned by licensees' legal obligation to operate efficiently, honestly and fairly, the regulator said. Specifically, the updated RG 277 clarifies ...

No surprise advice industry fears ASIC: Panel

CASSANDRA BALDINI  |  FRIDAY, 23 SEP 2022
... 2018, I would say resoundingly yes, it was a tougher time," he explained. "We had large, well capitalised institutional licensees embarking on multimillion-dollar mediation programs that were, frankly, breaking the rest of the market if it was to come ...

AMP cops $14.5m penalty over fees for no service

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
... it was a systemic issue or not, even though a significant number of complaints were received. "Put simply, the advice licensees took money to which they were not entitled from the superannuation accounts of the affected members, and continued to do so ...

Dixon Advisory pays $7m for poor advice

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
... was given a 30% discount for its cooperation and will instead pay $7.26 million. ASIC deputy chair Sarah Court said: "Licensees need to ensure their representatives are taking into account their clients' specific needs and circumstances." "Advice that ...

Ex-Synchron boss appointed head of Libertas

CASSANDRA BALDINI  |  WEDNESDAY, 14 SEP 2022
... from Synchron in June after just five months, will support the ongoing development of advisers across Sequoia's licensees, with core consideration around legislative changes impacting and increasing the services required to support advisers and their ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
... July 2023. However, the scheme will be fully industry funded through a levy on relevant financial service and credit licensees in the subsequent years of the scheme's operation. The Financial Planning Association of Australia has welcomed the CSLR ...

Super fund disclosure rules finalised

ANDREW MCKEAN  |  MONDAY, 5 SEP 2022
... forum to ask questions about all areas of the entity's performance and operations." "The regulations ensure that RSE licensees are required to disclose an appropriate amount of information to members, while keeping compliance costs low to preserve ...

ASIC issues warning over brokers' high-risk offers

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
... such claims should carefully consider whether they are in breach of financial services laws. Finally, ASIC reminded licensees to ensure they effectively monitor and supervise any brokers that are operating as authorised representatives under their licence. ...