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Showing 11 - 20 of 142 results for "AFS Licence"

ASIC launches new AFSL portal

ELIZA BAVIN  |  THURSDAY, 29 AUG 2024
... feedback to make continuous improvements to the AFSL application process and transaction flows before we go live for all AFS licence applications, scheduled for the first quarter of 2025," ASIC said. The project is part of the wider digital transformation ...

Former BBY employee sentenced for 'dishonest conduct'

MATTHEW WAI  |  WEDNESDAY, 21 AUG 2024
... accounts and contributed to the client money shortfalls on BBY's liquidation on 22 June 2015. ASIC has cancelled BBY's AFS licence in June 2021. Yuen is automatically disqualified from managing corporations for five years from conviction and will not ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
In a first for ASIC, Libertas Financial Planning's AFS Licence (AFSL) has been revoked for its failure to pay compensation as ordered by the Compensation Scheme of Last Resort (CSLR). Libertas, which went into liquidation in September 2023, failed ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... business, was also dealt a blow with the corporate regulator's decision to cancel United Global Capital's (UGC's) AFS licence. UGC's AFS licence was revoked following a damning ASIC investigation which revealed that the firm's authorised representatives ...

Court rejects former fund manager's appeal

KARREN VERGARA  |  WEDNESDAY, 31 JUL 2024
... of fraud under s408c of the Queensland Criminal Code and that he operated a financial services business without as AFS licence (AFSL). On 10 August 2021, his legal representatives filed an application seeking orders that the pleas of guilty be set aside. ...

ASIC bans 'incompetent' financial services directors

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... good faith. XTrade applied to the Administrative Appeals Tribunal (AAT) in April to review the decision to cancel its AFS licence, but the licence will stay cancelled until a final decision is made. Zakhaim and Anderson were responsible for ensuring ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... found "significant and systemic failures of oversight and compliance" upon investigating Guildfords, which had an AFS Licence (AFSL) to provide advisory and dealing services with respect to managed investment schemes and securities, as well as custodial ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
... Earner, which invested in cryptocurrency, operated an unregistered managed investment scheme (MIS) without holding an AFS Licence (AFSL) with respect to the "Earner" product, the company was relieved of any liability to pay a fine. "The Court found Block ...

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations. Everest Asset Management, which was licensed to service wholesale clients, will no longer be operational. ASIC said it revoked the AFSL ...

BitConnect promoter pleads guilty

KARREN VERGARA  |  MONDAY, 20 MAY 2024
... period, ASIC's investigation found. On top of this, Bigatton provided financial product advice without holding an AFS Licence or authorisation to provide financial services about the Lending Platform and BCC. He will be sentenced on July 5, with ...