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Showing 21 - 30 of 115 results for "AFS licensees"

ASIC launches new AFSL portal

ELIZA BAVIN  |  THURSDAY, 29 AUG 2024
... services licences (AFSL). The new AFSL portal was launched on August 12 for a limited, invitation-only group. All AFS licensees and applicants will transition to the new AFSL portal in the first quarter of 2025. ASIC said the portal aims to simplify ...

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
... be consolidated into one instrument. [CO 14/923] was introduced to impose specific record-keeping obligations for AFS licensees or their representatives as they provide personal advice. It states that licensees must keep records for seven years after ...

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 ...

ASIC bans 'incompetent' financial services directors

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... services business," the regulator said. It added that the bans are part of ongoing work to ensure that officers of AFS licensees maintain high standards of judgment, diligence, and professionalism in discharging their duties and responsibilities.

ASIC levy to slug advisers $48.4m

KARREN VERGARA  |  TUESDAY, 9 JUL 2024
... total number of relevant providers on the Financial Advisers Register (FAR) at the end of FY24 that amounted to 2766 AFS licensees (AFSL) with 15,371 advisers. Licensees will only pay the levy in proportion to the number of days in the financial year ...

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
... the upcoming notification obligations related to the new experienced provider pathway. Starting from next week, AFS licensees must notify ASIC by lodging a notice when they receive a written declaration from a financial adviser eligible for the experienced ...

AFSLs undertake more reviews, lack risk documentation

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
Most AFS Licensees (AFSLs) are undertaking more reviews of their systems and processes but still lack documentation when it comes to managing risk, according to a new compliance survey. Holley Nethercote's 2024 Compliance Trends Survey reveals AFSLs ...

ASIC issues experienced pathway guidance

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... personal advice to retail clients on relevant financial products on that date. INFO 281 also provides guidance to AFS Licensees on their requirements to notify ASIC when they receive a declaration from an experienced provider they authorise. Licensees ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... believe that JB Markets was likely to breach financial services laws. "ASIC imposes financial requirements upon AFS licensees to help ensure that they have sufficient financial resources to conduct their business in compliance with financial services ...