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Showing 21 - 30 of 100+ results for "AFSL"

Fund manager hit with serious charges

KARREN VERGARA  |  FRIDAY, 21 MAY 2021
... thanks to a tip off from ASIC, investigated her conduct in November 2019. On 21 January 2020, ASIC suspended the fund's AFSL for six months. On 31 January 2020, following an application by ASIC, the Federal Court ordered Global Merces be wound up ...

Draft advice reforms not enough: FPA

JAMIE WILLIAMSON  |  WEDNESDAY, 19 MAY 2021
... the personal responsibility of each financial planner and is not connected with their employment or authorisation under an AFSL," he said. ASIC has recommended its Financial Services and Credit Panel serve as the single disciplinary body, which would ...

ASIC to wind up PE Capital

ELIZABETH MCARTHUR  |  FRIDAY, 14 MAY 2021
... According to ASIC, PE Capital issued interests in the unregistered schemes without an Australian financial services licence (AFSL) or a valid authorisation from an AFSL holder. The claim says PE Capital held itself out as being a corporate authorised ...

Key Treasury initiatives outlined

JAMIE WILLIAMSON  |  TUESDAY, 11 MAY 2021
... regulated in jurisdictions with similar financial systems. The relief would mean these entities would not need to hold an AFSL to operate in Australia, reducing duplicate requirements. It will also develop a means of fast tracking the licensing process ...

Former Westpac chief executive in new role

KANIKA SOOD  |  TUESDAY, 11 MAY 2021
... proceedings in the Federal Court against Westpac on allegations of insider trading, unconscionable conduct and breaches of its AFSL obligations in relation to interest rate hedging undertaking during a $12 billion interest rate swap transaction from ...

Statewide not contesting ASIC allegations

KANIKA SOOD  |  MONDAY, 10 MAY 2021
... nor did it act to prevent the premiums being charged again. In doing so, ASIC says Statewide breached its obligations as an AFSL holder. It is also accused of breaching its obligation to report such breaches to ASIC within 10 days. The matter relates ...

Westpac to face court over insider trading

JAMIE WILLIAMSON  |  WEDNESDAY, 5 MAY 2021
... against the regulator in the Federal Court on allegations of insider trading, unconscionable conduct and breaches of its AFSL obligations in relation to interest rate hedging undertaking during a $12 billion interest rate swap transaction with a consortium ...

Proxy advisers under scrutiny

ELIZABETH MCARTHUR  |  MONDAY, 3 MAY 2021
... other resolutions, such as remuneration reports, board appointments and governance arrangements, which are not covered by the AFSL regime as they do not fall within the meaning of a financial service," the consultation paper says. Industry stakeholders ...

Advisers to go forth with claims handling

ANNABELLE DICKSON  |  MONDAY, 26 APR 2021
... Association of Financial Advisers (AFA) has welcomed the government's regulation that will exempt advisers from varying their AFSL to provide claims handling, following a submission outlining issues. The government passed Financial Sector Reform (Hayne ...

Adviser numbers at five-year low

KARREN VERGARA  |  FRIDAY, 23 APR 2021
The financial adviser population has reverted to the pre-financial services Royal Commission days, ending at 20,667 in the first quarter of 2021. Rainmaker analysis of ASIC's Financial Adviser Register found that the total number of financial advisers ...