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Showing 11 - 20 of 115 results for "AFS licensees"

4600 relevant providers yet to meet qualification standards: ASIC

KARREN VERGARA  |  TUESDAY, 24 JUN 2025
... "It's possible that some of these relevant providers may be eligible for the experienced provider pathway, but their AFS licensees are yet to advise us of that. "It is crucial for ASIC to be provided with accurate information in the lead up to the January ...

ASIC calls on AFS licensees to 'step up'

ELIZA BAVIN  |  TUESDAY, 24 JUN 2025
... onboarding and verification practices, in addition to their share sale fraud detection practices. ASIC added that AFS licensees that deal in securities have a critical role in preventing and detecting share sale fraud, both individually and collectively. ...

ASIC accuses Kalkine of providing unlicensed advice

ELIZA BAVIN  |  FRIDAY, 23 MAY 2025
... were complying with the law when interacting with consumers were inadequate. ASIC deputy chair Sarah Court said AFS licensees are responsible for the conduct of their representatives and must have adequate supervision arrangements in place. "As a result ...

Licensees slash compliance spending: Survey

KARREN VERGARA  |  WEDNESDAY, 7 MAY 2025
... Nethercote shows, but a slew of reforms slated within the next 18 months could catch them off guard. Out of the 179 AFS Licensees and 29 credit licensees surveyed, 40% spent less than $100,000 on internal compliance staff compared to 29% in 2024. More ...

Three AFS licensees pinged over compliance breaches

ANDREW MCKEAN  |  WEDNESDAY, 9 APR 2025
Three AFS licensees - Australian Advice Network, IA Advice, and Sherrin Partners Services - have copped infringement notices from ASIC after their financial advisers provided personal advice while unregistered. Each licensee paid a $31,300 penalty in ...

ASIC updates on SMSF advice review

ELIZA BAVIN  |  THURSDAY, 13 FEB 2025
... assess compliance with the best interest duty and related obligations. In addition, ASIC is observing the role of AFS licensees in monitoring and supervising representatives who are providing SMSF establishment advice. ASIC said this includes considering ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
... financial services under an AFSL to customers outside of Australia. Justice Wigney held that the general obligations of AFS licensees are not limited to financial services provided to customers in Australia. ASIC warned CFD issuers in 2019 that it would ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
... FAQs: FSGs and website disclosure information includes references to ASIC's recently made instrument that allows AFS Licensees or their representatives dealing in a financial product for the purposes of implementing financial product advice to rely on ...

ASIC updates and reissues RG 121

ELIZA BAVIN  |  MONDAY, 23 SEP 2024
... the new guidance has updated descriptions of, or references to, financial products and services, obligations of AFS licensees, legislation administered by ASIC, other applicable rules and legislation, and ASIC's regulatory documents to reflect the current ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
... breaches of its core obligations. The regulator said that by cancelling the licence it also aimed to deter other AFS licensees from failing to "comply with their obligations, promote the objects of fairness, honesty and professionalism by those who provide ...