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Showing 11 - 20 of 100+ results for "AFSL"

AMP sued over corporate super misconduct

JAMIE WILLIAMSON  |  FRIDAY, 30 JUL 2021
... had left those super products wouldn't be charged advice fees, and that the group also contravened obligations as an AFSL to act efficiently, honestly and fairly. In a statement, AMP acknowledged the proceedings and said it became aware in 2018 that ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
... not fit or proper, having regard to his connection to a refusal or failure to give effect to a determination by AFCA. The AFSL was cancelled after Trade Wind FS failed to co-operate with the Australian Financial Complaints Authority (AFCA) and pay two ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
ASIC released more information on what financial advisers can expect from the new reference checking laws, which take effect on October 1. New protocols administered by ASIC requires a licensee recruiting a prospective financial adviser to request a ...

ASIC cancels BBY licence

KANIKA SOOD  |  TUESDAY, 29 JUN 2021
... Australian financial services licence held by stockbroker BBY Limited, after suspending it in May 2015 for three years. BBY's AFSL will go until 31 March 2022 only for the purposes of giving clients access to external dispute resolution and the National ...

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
... which will come into effect from 1 January 2022, makes the registration of a financial planner the responsibility of their AFSL in year one until the financial adviser register is transferred from ASIC to the ATO in 2023," he said. "While the AFSL registering ...

Advisers turn to ETFs during COVID

KARREN VERGARA  |  MONDAY, 21 JUN 2021
Financial advisers' appetite for exchange-traded funds has more than doubled since the global pandemic hit as new trading data shows that index funds are providing better means of diversification. AUSIEX research found that before COVID-19, one ...

Halifax auditors face criminal charges

ELIZABETH MCARTHUR  |  TUESDAY, 8 JUN 2021
... Audit. Halifax was placed into administration in November 2018 and entered liquidation in March 2019. ASIC cancelled its AFSL in January 2021. The regulator had been looking into the company for some time, with ASIC initially finding deficiencies in ...

Adviser numbers fall below 20k

KARREN VERGARA  |  THURSDAY, 3 JUN 2021
... advisers to the group during the period, bringing its total to 385. IOOF completed its acquisition of MLC Wealth on June 1. The AFSL for the newly merged group, based on ASIC's FAR, is under Consultum Financial Planning. MLC brands that moved over - ...

Global Merces MD cops ASIC ban

KARREN VERGARA  |  MONDAY, 31 MAY 2021
... financial services until 28 October 2021. ASIC found that Grofski was involved in Global Merces' failure to comply with its AFSL conditions and replace key persons named on its licence. Global Merces also failed to lodge audit reports for the group and ...

ASIC cancels AFSLs

ANNABELLE DICKSON  |  TUESDAY, 25 MAY 2021
The corporate regulator has cancelled the Australian financial services licences (AFSL) of two providers for failing to lodge audited financial accounts and failing to maintain an AFCA membership. Victorian-based financial services provider and mortgage ...