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Showing 371 - 380 of 936 results for "AFSL"

Director charged with dishonest conduct

ANNABELLE DICKSON  |  FRIDAY, 4 DEC 2020
... the Corporations Act by operating a financial services business without holding an Australian financial services licence (AFSL). The matter is being prosecuted by the Commonwealth Director of Public Prosecutions with each offence carrying a maximum penalty ...

AAT refuses Allegra AFSL

ANNABELLE DICKSON  |  THURSDAY, 3 DEC 2020
... financial services licence to Allegra Financial Services after it was initially rejected by ASIC. Allegra applied to ASIC for an AFSL in 2018 to provide personal financial product advice to retail and wholesale clients, with Lachlan Schonfelder as its ...

Dealer service provider adds former MLC advice firm

KANIKA SOOD  |  WEDNESDAY, 2 DEC 2020
... Financial Planning and Parish Financial. It says three more former bank-aligned practices are set to join by year-end, with their AFSL-applications in progress. "Some institutions have voluntarily closed their dealer group businesses and, at the same ...

IOOF ups costs for self-employed advisers

ELIZA BAVIN  |  TUESDAY, 1 DEC 2020
... operated, break-even AFSLs and those who are self-licensed. Whereat said there are around 1000 advisers in the break-even AFSL space, which is set to increase to around 1300 with the addition of TenFifty. "We are going to make sure that our technology ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... the competence or resources to provide financial services as required under its licence. ASIC said under the terms of its AFSL, Jels was required to have a 'key person'. Following the death of its key person, Jels failed to appoint a new key person. ...

ASIC takes action against missing woman

ELIZABETH MCARTHUR  |  FRIDAY, 27 NOV 2020
... from leaving Australia. ASIC is investigating concerns that Maliver may have been providing financial services without an AFSL or may have used the AFSL of another company without authorisation. The regulator is also concerned investor funds may have ...

ASIC prepares industry for claims handling law

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... introduced in parliament on November 12, will force those providing claims handling and settling services to be covered by an AFSL. It also means that insurance-claims handling will be under the umbrella of "financial service", meaning insurers must ...

Exemptions to AFSLs explained by ASIC

ELIZA BAVIN  |  THURSDAY, 26 NOV 2020
... regulator stressed that a trustee which issues, varies or disposes of interests in an unregistered scheme must generally hold an AFSL authorising it to deal in a financial product by issuing, varying or disposing of interests in a managed investment ...

Financial adviser reference checks under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
ASIC has released a consultation paper seeking feedback on reference checking protocols for financial advisers and mortgage brokers. Requiring financial advisers to have reference checks was one of the recommendations to come out of the Royal Commission. ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... the new law, insurance-claims handling will now be under the umbrella of "financial service", meaning insurers must hold an AFSL to be involved in the claims process. They must also handle claims efficiently, honestly and fairly, and must have an internal ...