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Showing 21 - 30 of 198 results for "AFS license"

'Incompetent' adviser permanently banned by ASIC

MATTHEW WAI  |  FRIDAY, 14 MAR 2025
A Sydney-based financial adviser has been permanently banned for acting dishonestly and exhibiting a fundamental lack of knowledge, integrity, and professionalism, ASIC said. Peter Surtenich has been permanently banned on March 6 from providing any ...

ASIC updates on SMSF advice review

ELIZA BAVIN  |  THURSDAY, 13 FEB 2025
The Australian Securities and Investments Commission (ASIC) said reviews are underway into why consumers are advised to establish an SMSF. Plans for the review were first announced in ASIC's Corporate Plan 2024-25 and the regulator has now confirmed ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
The Federal Court has found that collapsed contracts for difference (CFD) issuer, Union Standard International Group (USG) and two of its former corporate authorised representatives, BrightAU Capital (trading as TradeFred) and Maxi EFX Global AU (trading ...

ASIC issues new guidance on DBFO reforms

KARREN VERGARA  |  FRIDAY, 22 NOV 2024
ASIC has issued new regulatory guidance for financial advisers and superannuation trustees relating to four strands of the Delivering Better Financial Outcomes (DBFO) reforms. The regulator issued two new documents regarding fee arrangements: Information ...

ASIC updates and reissues RG 121

ELIZA BAVIN  |  MONDAY, 23 SEP 2024
The Australian Securities and Investments Commission (ASIC) has reissued RG 121 to provide updated guidance to individuals and companies from outside Australia that wish to conduct a financial services business in Australia. The newest version replaces ...

Majority pass adviser exam

KARREN VERGARA  |  FRIDAY, 6 SEP 2024
ASIC reported a 62% pass rate for the latest sitting of the Financial Advisers Exam. In the August cycle, 231 candidates sat the exam and 143 passed. Nearly three quarters (73%) sat the exam for the first time. The results were similar to the April ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFLS) of contracts for difference (CFDs) and foreign exchange contracts issuer, FXOpen AU. ASIC said the decision to cancel the licence ...

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 ...