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Showing 11 - 20 of 33 results for "AFSL holders"

ASIC considering more action on Sterling collapse

KARREN VERGARA  |  MONDAY, 14 FEB 2022
... under consideration. The first recommendation involves ASIC commencing legal proceedings against current and former AFSL holders that allegedly breached section 917B of the Corporations Act 2001 and have not consented to participate in relevant remediation ...

BT Practice Principals' Community goes independent

ELIZABETH MCARTHUR  |  TUESDAY, 16 NOV 2021
... Costas and his team all the best with their independent offer. "Following the Royal Commission, requirements from AFSL holders have become much tougher, resulting in licence holders increasingly engaging with their peers for support and business insights ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
... 2019 and 2020 audited financial accounts and failed to notify ASIC of the change in the key person for the AFSL. "AFSL holders must comply with their licence conditions and have adequate resources to provide the financial services covered by their licence. ...

Halifax auditors face criminal charges

ELIZABETH MCARTHUR  |  TUESDAY, 8 JUN 2021
... accurately stated," ASIC said. "ASIC relies on accurate and reliable audited financial statements to ensure that AFSL holders have sufficient financial resources to conduct their financial services business in compliance with the Act."

Delay breach reporting law: AFA

KARREN VERGARA  |  FRIDAY, 16 APR 2021
... outlined its concerns about Commissioner Kenneth Hayne's recommendation that in order to help protect consumers, AFSL holders must follow breach-reporting regulations when representatives engage in misconduct. Hayne recommended that significant breaches ...

Derivatives issuer cops $75m penalty

ELIZA BAVIN  |  MONDAY, 19 OCT 2020
... its obligations as the holder of an AFSL," Justice Beach said. "Such a penalty will stand as a deterrent to other AFSL holders, particularly those who are participants in the OTC derivatives market, from failing properly to supervise the conduct of their ...

Separate advice and product: AIOFP

ELIZABETH MCARTHUR  |  FRIDAY, 7 FEB 2020
... it said. "It will also put some reality into the current discussion around the capital adequacy requirements for AFSL holders and should lead to having two AFSL basic categories - advice and product, with different conditions." The $40 billion in failed ...

Cashwerkz, Complii partner to automate compliance

ALLY SELBY  |  TUESDAY, 3 DEC 2019
... manual paperwork. Nantes said the new automated solution will improve efficiency and accuracy levels by providing AFSL holders with the technology to "identify, automate, record and report on the cash investment transaction." Complii managing director ...

Consultation opens on new ASIC powers

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 SEP 2019
... warrant powers, the legislation will also strengthen ASIC's licensing powers by increasing the standards required of AFSL holders. It also extends ASIC's powers to ban people from performing functions in a financial services or credit business, expanding ...

Financial advice exit a boon for the industry: Poll

KARREN VERGARA  |  MONDAY, 8 APR 2019
... more broadly. This is despite Hayne recognising that conflicts of interest would likely be reduced by separating AFSL holders authorised to issue financial products and AFSL holders authorised to give financial product advice. The new poll asks: What ...