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Showing 21 - 30 of 142 results for "AFS licence"

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... its representatives were adequately trained; maintain the competence to provide financial services covered by its AFS licence; take responsible steps to ensure representatives complied with the law; and do all things necessary to ensure services provided ...

ASIC takes further action on Prospero

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... ASIC has applied to the Federal Court to wind up Prospero Markets "on just and equitable grounds", shortly after its AFS Licence was suspended in December 2023 for failing to lodge its 2023 audited financial accounts. Investors have contacted ASIC concerned ...

SMSF scammers charged with criminal offences

KARREN VERGARA  |  WEDNESDAY, 7 FEB 2024
A duo who allegedly defrauded self-managed super funds (SMSF) have been charged by the Melbourne Magistrates Court with a string of criminal offences. The charges follow an ASIC investigation into the activities of Joseph Cullia and Zoran Markovic ...

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
... qualified and licensed financial advisers or financial counsellors, not by individuals or corporations who neither hold an AFS licence, nor are authorised representatives of an AFS licensee," it said. "Crypto assets are highly speculative investments... ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
After being rebuked by ASIC for operating without an AFS Licence, iExtend is now running under a Corporate Authorised Representative (CAR) arrangement for the interim. A CAR enables iExtend to act as an agent of an AFS Licensee, meaning it is authorised ...

ASIC takes action on EverBlu, director

KARREN VERGARA  |  MONDAY, 18 DEC 2023
... efficiently and fairly and will cease offering any financial services to new clients and apply for cancellation of its AFS Licence within eight weeks," ASIC said. The first case management hearing is yet to be announced by the court.

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... distribution obligations," Court said. "Anyone dealing in a financial product or providing financial advice must have an AFS licence or be appropriately authorised under an AFS licence unless an exemption applies." As part of the court enforceable undertaking ...

NextGen Financial Group forced into liquidation

KARREN VERGARA  |  MONDAY, 25 SEP 2023
... licensee's peril. "Not only does failure to satisfy a determination give ASIC a clear basis for cancellation of an AFS licence, but it may also lead to a loss of control of a company through the placement of it in the hands of liquidators," she said. ...

ASIC revokes Centurion subsidiary licence, suspends fund manager

ANDREW MCKEAN  |  WEDNESDAY, 24 MAY 2023
... cancelled the AFSL of Centurion Custodian Funds Management and suspended Huntley Management for non-compliance. The AFS licence of Centurion Custodian Funds Management, a subsidiary of Centurion, has been cancelled effective from January 18. ASIC took ...

Finfluencers bridge financial advice gap

KARREN VERGARA  |  THURSDAY, 18 MAY 2023
... that have gained the relevant authorisations to provide financial or credit services by obtaining either their own AFS licence or obtaining status as an authorised rep or corporate authorised representative of an AFS licensee or Australian Credit Licensee." ...