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Showing 11 - 20 of 57 results for "Australian Financial Services Licensees"

AMP sued for charging dead clients

JAMIE WILLIAMSON  |  THURSDAY, 27 MAY 2021
... out. AMP and the aforementioned subsidiaries contravened their overarching obligations as Australian financial services licensees to act efficiently, honestly and fairly, the regulator said. "ASIC further alleges that the AMP companies' conduct demonstrated ...

Research reveals true value of advice

KARREN VERGARA  |  WEDNESDAY, 7 APR 2021
... outweighs the costs," the report found. IOOF chief advice officer Darren Whereat said: "Australian financial services licensees must commit to supporting and helping advisers deliver advice to clients in an efficient way that not only makes advice practice ...

ASIC releases fee consent instrument

ELIZABETH MCARTHUR  |  THURSDAY, 25 MAR 2021
... advice fees as part of an ongoing fee arrangement. The second means ASIC will require Australian financial services licensees or authorised representatives to provide clients with disclosures on lack of independence where they would breach section 923A ...

New MDA offering launched

ELIZA BAVIN  |  WEDNESDAY, 2 DEC 2020
... market changes and in a RG179 compliant manner. Lifestyle said the pilot is one of the only Australian financial services licensees to offer this service to their authorised representatives. Lifestyle managing director Scott Heathwood said Lifestyle ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
... obligations, focused on whether the fee disclosure documents, provided by 30 randomly selected Australian financial services licensees, provided to clients complies with the law. The regulator required the licensees to produce samples of fee disclosure ...

Registration deadline extended: ASIC

ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
ASIC has told Australian financial services licensees that they will not be in breach of the law because their financial advisers were not able to register with ASIC-approved compliances schemes. The original deadline for registering was 1 January 2020. ...

Whistleblower calls out approved product lies

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
... on the consumer impact of Approved Product Lists (APLs) claims institutionally-aligned Australian Financial Services Licensees (AFSLs) are funneling new clients into in-house products, potentially in breach of Best Interest Duty obligations. Whistleblower ...

AFSL super options under the lens

KANIKA SOOD  |  THURSDAY, 10 JAN 2019
... sitting on the approved product lists of AFSLs. The Productivity Commission calls for all Australian Financial Services Licensees (AFSL) to "immediately" be required by the government to report to ASIC the number of superannuation products on their APLs ...

AFCA membership deadline arrives

JAMIE WILLIAMSON  |  FRIDAY, 21 SEP 2018
... membership of the Australian Financial Complaints Authority. ASIC has issued a warning to all Australian financial services licensees, superannuation trustees and authorised credit representatives reminding them that membership to AFCA is mandatory and ...

Fees for no service remediation passes $250 million

DARREN SNYDER  |  WEDNESDAY, 8 AUG 2018
... interest for failing to provide advice while charging ongoing fees. Other institutions and Australian financial services licensees (AFSLs) that have identified potential fee for no service failings include Bendigo Financial Planning, Police Financial ...