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Showing 371 - 380 of 1272 results for "AFS"

BOQ divests St Andrew's Insurance

KARREN VERGARA  |  WEDNESDAY, 27 OCT 2021
Bank of Queensland will offload St Andrew's Insurance for $23 million after receiving approval from APRA. BOQ announced on 14 October 2020 that it entered into an agreement with Farmcove Investment Holdings to sell St Andrew's subject to APRA's ...

Crypto regulation proposed: Bragg

ANNABELLE DICKSON  |  THURSDAY, 21 OCT 2021
A Senate committee is proposing a regulatory framework for digital assets and crypto-asset businesses to protect consumers, promote investment in Australia and deliver competition, but the industry has concerns. The Select Committee on Australia as ...

Former Spectrum chief cops additional bans

KARREN VERGARA  |  WEDNESDAY, 20 OCT 2021
Former Spectrum Wealth Advisers chief executive Mark Schroeder has been slapped with banning orders in addition to his six-year ban from providing financial services. The Administrative Appeals Tribunal amended ASIC's banning order that was handed down ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  TUESDAY, 28 SEP 2021
The corporate regulator banned a Gold Coast-based financial adviser from providing financial services for four years and cancelled the associated AFSL for failure to comply with its general obligations. ASIC found that Frederick Steven Ackerman failed ...

ASIC clarifies adviser exam obligations

KARREN VERGARA  |  THURSDAY, 23 SEP 2021
... January 2019, and has not been banned, disqualified or subject to a court enforceable undertaking. A relevant provider is an AFS licensee or its representative, and is authorised to provide personal advice to retail clients as the licensee or on behalf ...

Asendium partners with licensee support firm

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
Asendium has joined forces with a licensee support firm that has more than 70 AFS Licensees nationwide. My Dealer Services is using the financial advice technology firm's software to develop compliant advice. Advisers will be able to generate in-house ...

More advisers switching practices

KARREN VERGARA  |  TUESDAY, 21 SEP 2021
... that there were 19,096 practising advisers. The adviser movements pipeline shows the movement of financial advisers across AFS licences (AFSLs) and financial advice practices using the ASIC Financial Advisers Register. "With adviser numbers fluctuating ...

ASIC provides licensing update

ELIZABETH MCARTHUR  |  THURSDAY, 16 SEP 2021
... the ongoing COVID-19 pandemic and our continued flexibility during these times." In addition to AFSL and ACL approvals, 391 AFS and ACL applications were withdrawn or rejected for lodgement, one was refused, 563 licences were cancelled and 23 suspended. ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... have greater confidence they are doing the right thing by consumers, and ultimately their firm and shareholders," she said. AFS licensees must report breaches that they discover after 1 October 2021, even if the breach occurred before that date. However ...

WTL posts $3.3m loss

KARREN VERGARA  |  WEDNESDAY, 1 SEP 2021
WT Financial Group (WTL) reported a huge loss in FY21 as a result of its restructuring efforts. While revenue grew 6% to $13.6 million, WTL recorded a $3.3 million loss, down from $594,000 in FY20. This is a result of one-off write-downs and provisions ...