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Showing 11 - 20 of 86 results for "Australian Financial Services Licensee"

Adviser exam pass rate improves

MATTHEW WAI  |  MONDAY, 9 DEC 2024
... exam before starting the third quarter of their professional year and be authorised by an Australian financial services licensee (ASFL) as a 'provisional financial adviser'. Those who were unsuccessful will receive feedback as to the areas of the exam ...

ASIC extends two advice instruments

KARREN VERGARA  |  WEDNESDAY, 25 SEP 2024
ASIC has extended the reportable situations relief and personal advice record keeping requirement instruments for another five years. The regulator has established ASIC Corporations and Credit (Breach Reporting-Reportable Situations) Instrument 2024/620 ...

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
ASIC is set to extend three legislative instruments for five years, one of which relates to record keeping for financial advisers. The instruments are: Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when ...

ASIC hits Melbourne adviser with travel ban

ELIZA BAVIN  |  TUESDAY, 23 JUL 2024
... King Financial Group (NSW), and King Financial Group (QLD). Wealth Effect Advisory is an Australian financial services licensee of which King is a director. King has held an AFSL since 2007 and was previously licensed under Principal Financial Group ...

Penta Capital fined for fabricated FUM

KARREN VERGARA  |  MONDAY, 22 JAN 2024
... file civil penalty proceedings," ASIC said. ASIC clarified that Penta Capital "is not an Australian financial services licensee or authorised representative". Its associated entities Penta Asset Management and SEQ Asset Management were authorised representatives ...

ASIC freezes out former Magnolia Capital director

ANDREW MCKEAN  |  WEDNESDAY, 22 NOV 2023
... corporate regulator determined that Atkins, previously an authorised representative of Australian financial services licensee Guildfords Fund Management, failed to act in good faith as a director by putting investor funds at risk. ASIC said Atkins demonstrated ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
ASIC continues to crack down on providers of contracts for difference (CFD), options and other high-risk products that flout their target market determinations (TMD), and design and distribution obligations (DDO). The newly published Report 770 Design ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
The Federal Court found AMP guilty of charging deceased customers life insurance premiums and advice fees, ordering it to pay $24 million in penalties. Justice Hespe today determined that four AMP subsidiaries - AMP Life, AMP Financial Planning, AMP ...

ASIC case against Commonwealth Bank dismissed

CASSANDRA BALDINI  |  WEDNESDAY, 30 NOV 2022
... conduct, made false or misleading representations and contravened its obligations as an Australian financial services licensee by incorrectly charging monthly access fees to customers. The regulator alleged that, between June 2010 and September 2019 ...

ASIC issues warning over brokers' high-risk offers

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
ASIC has told brokers to be careful about or to reconsider offering high-risk products and services to retail investors as an increasing number offer securities trading. ASIC said it has seen increased instances of brokers offering securities trading ...