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Showing 21 - 30 of 162 results for "AFS Licensee"

Majority pass adviser exam

KARREN VERGARA  |  FRIDAY, 6 SEP 2024
... adviser must pass the exam before starting the third quarter of their Professional Year program and be authorised by an AFS Licensee as a provisional financial adviser. Next year, ASIC flagged that the indicative dates for the exam sittings are March ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
... equities, commodities or crypto assets. ASIC found FXOpen AU's failure to comply with its core obligations as an AFS licensee warranted the cancellation to protect existing and future clients from likely future breaches of its core obligations. The regulator ...

ASIC launches new AFSL portal

ELIZA BAVIN  |  THURSDAY, 29 AUG 2024
The Australian Securities and Investment Commission (ASIC) is piloting a new digital portal for licensing which includes the ability to apply for, maintain and vary Australian financial services licences (AFSL). The new AFSL portal was launched on August ...

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
ASIC is set to extend three legislative instruments for five years, one of which relates to record keeping for financial advisers. The instruments are: Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when ...

AFSLs can lose licence on CSLR intervention

KARREN VERGARA  |  WEDNESDAY, 7 AUG 2024
AFS Licensees (AFSLs) and their professional indemnity insurers (PII) that fail to pay a determination will potentially see their licence revoked if the Compensation Scheme of Last Resort (CSLR) has to intervene. CSLR chief executive David Berry warned ...

Former wealth management chief ousted from financial services

ANDREW MCKEAN  |  FRIDAY, 2 AUG 2024
... Limited in which Hewish had an interest." ASIC also condemned UGC for violating numerous general obligations as an AFS licensee. UGC was found to not have provided financial services efficiently, honestly, and fairly. It also failed to ensure its representatives ...

ASIC bans 'incompetent' financial services directors

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
ASIC has banned two former directors and responsible managers of XTrade, a trading platform that offers clients opportunities to trade in contracts for difference (CFDs) and foreign exchange contracts. The directors, Shay Zakhaim and Anthony Anderson ...

ASIC levy to slug advisers $48.4m

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
ASIC's regulation activity for the 2024 financial year is expected to slug financial advisers $48.39 million collectively as the annual levy does not appear to be reducing. Licensees that provide personal advice to retail clients on relevant financial ...

ASIC calls out sloppy adviser data

KARREN VERGARA  |  MONDAY, 1 JUL 2024
ASIC is reprimanding AFS licensees (AFSL) for submitting inaccurate information about their financial advisers and will ramp up its enforcement from August. AFSLs are making numerous errors when it comes to providing data on the Financial Advisers Register ...

ASIC alerts licensees to experienced pathway deadlines

ANDREW MCKEAN  |  WEDNESDAY, 26 JUN 2024
ASIC has issued a reminder to the Australian Financial Services (AFS) licensees regarding the upcoming notification obligations related to the new experienced provider pathway. Starting from next week, AFS licensees must notify ASIC by lodging a notice ...