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Showing 351 - 360 of 955 results for "AFSL"

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 ...

Fund manager hit with serious charges

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
... thanks to a tip off from ASIC, investigated her conduct in November 2019. On 21 January 2020, ASIC suspended the fund's AFSL for six months. On 31 January 2020, following an application by ASIC, the Federal Court ordered Global Merces be wound up ...

Draft advice reforms not enough: FPA

JAMIE WILLIAMSON  |  WEDNESDAY, 19 MAY 2021
... the personal responsibility of each financial planner and is not connected with their employment or authorisation under an AFSL," he said. ASIC has recommended its Financial Services and Credit Panel serve as the single disciplinary body, which would ...

ASIC to wind up PE Capital

ELIZABETH MCARTHUR  |  FRIDAY, 14 MAY 2021
... According to ASIC, PE Capital issued interests in the unregistered schemes without an Australian financial services licence (AFSL) or a valid authorisation from an AFSL holder. The claim says PE Capital held itself out as being a corporate authorised ...

Key Treasury initiatives outlined

JAMIE WILLIAMSON  |  TUESDAY, 11 MAY 2021
... regulated in jurisdictions with similar financial systems. The relief would mean these entities would not need to hold an AFSL to operate in Australia, reducing duplicate requirements. It will also develop a means of fast tracking the licensing process ...