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Showing 321 - 330 of 1272 results for "AFS"

OTC derivatives provider loses licence, executives banned

CASSANDRA BALDINI  |  THURSDAY, 14 JUL 2022
Over-the-counter derivatives provider Sirius Financial Markets Pty Ltd has surrendered its AFSL and its former executives Jonathan Schneider and Oskar Pecyna have both been banned for eight years. ASIC reported that Sirius Financial, trading as Trade360 ...

Victorian AR charged with providing unlicensed advice

CASSANDRA BALDINI  |  WEDNESDAY, 13 JUL 2022
... November 2017 and December 2020, Bhandari was an AR of The Australian Dealer Group Pty Ltd, an Australian financial services (AFS) licensee that helped consumers find lost superannuation and consolidate their superannuation accounts. For the same period ...

Equity Story plans to throw finfluencers a lifeline

CASSANDRA BALDINI  |  MONDAY, 11 JUL 2022
Equity Story Group has acquired news and arts media company A Rich Life, and plans to throw 'finfluencers' a lifeline after ASIC's recent crackdown by giving them the option of continuing to influence with the coverage of an AFSL. A Rich ...

Subjects of Royal Commission case study found guilty in court

CHLOE WALKER  |  MONDAY, 11 JUL 2022
The Federal Court has found that Select AFSL (Select), BlueInc Services Pty Ltd (BlueInc) and Insurance Marketing Service Pty Ltd (IMS) engaged in unconscionable conduct when selling insurance products. The Court also found Russell Howden, the managing ...

ASIC takes Lanterne Fund Services to court

ANDREW MCKEAN  |  THURSDAY, 7 JUL 2022
ASIC has issued civil penalty proceedings against wholesale licensee Lanterne Fund Services, saying it operated with almost no compliance staff or risk management processes. The regulator alleges that Lanterne has on multiple occasions failed to meet ...

ASIC releases guidance on super, retirement calculators

ANDREW MCKEAN  |  TUESDAY, 5 JUL 2022
... estimates may involve personal financial advice, but ASIC chooses to give class order relief from Australian Financial Services (AFS) licensing and personal advice requirements for tool providers. Under ASIC's relief, a financial calculator, including ...

More than 1700 advisers gone already

JAMIE WILLIAMSON  |  FRIDAY, 1 JUL 2022
As we officially hit the mid-way point of the year, the latest data from ASIC shows more than 1700 financial advisers have dropped off its register since January. Analysis of the ASIC Financial Adviser Register shows there is now 16,413 financial advisers ...

ASIC releases CCIV guidelines

CASSANDRA BALDINI  |  FRIDAY, 24 JUN 2022
... must be limited by shares; the sole director must be a public company that holds an Australian financial services licence (AFS) authorising operation; and the company must have at least one sub-fund to register and the sub-fund must have one member. ...

BTC Markets gains ASFL

CHLOE WALKER  |  TUESDAY, 21 JUN 2022
Melbourne-based BTC Markets has become Australia's first crypto exchange to successfully go through the full AFSL application process, via sister company BTCM Payments. BTC Markets said the AFSL will enable it to further bridge the crypto and traditional ...

ASIC bans financial adviser for five years

ANDREW MCKEAN  |  FRIDAY, 20 MAY 2022
... behalf of clients and used managed discretionary accounts. However, Guan nor his company held an Australian financial services (AFS) licence. For part of that period, Guan was an authorised representative of an AFS licensee but his authorisation didn't ...