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Showing 21 - 30 of 111 results for "AFS licensees"

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 ...

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
... register. "Given that the period for registration has coincided with the summer holiday period, ASIC is providing AFS licensees an additional two weeks to register their relevant providers," the regulator said. The change of date comes amidst the Financial ...

ASIC confirms adviser registration deadline

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
... authorised the relevant provider at the relevant time, will be breaking the law, ASIC said. "It is crucial that AFS licensees and Relevant Providers understand their obligations in relation to relevant provider registration." ASIC will also host two ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... than $2.5 million or $250,000, you are a professional investor under Section 761 G (7) (D)," he said. This includes AFS Licensees with over $10 million dollars or the investment amount is at least $500,000 (under section 761G (7)(A)). "You can also be ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... (financial) advice services for the first time," ASIC said. "It is important to note that it is the responsibility of AFS licensees to ensure that the information recorded on the Financial Advisers Register about their relevant providers is correct." ...