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Showing 21 - 30 of 33 results for "AFSL holders"

Hayne report raises professionalism stakes

JAMIE WILLIAMSON  |  MONDAY, 11 FEB 2019
... essentially their livelihood." The licensee won't be relieved from their compliance and monitoring duties. However, AFSL holders would be required to report serious compliance concerns to the proposed disciplinary body. Under this framework, Hayne's ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... more broadly. This is despite Hayne recognising that conflicts of interest would likely be reduced by separating AFSL holders authorised to issue financial products and AFSL holders authorised to give financial product advice. He also noted that in addition ...

AFSL reference checking protocols required

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... the Corporations Act, Hayne suggested. He has also called for quarterly reporting of serious compliance concerns by AFSL holders to ASIC. The Government also agreed to this, stating: "The Royal Commission has highlighted concerns around the current reporting ...

Simple Fund 360 picks up AdviserLogic

HARRISON WORLEY  |  THURSDAY, 5 JUL 2018
... built to assist financial advisers, licensees, brokers, corporate authorised representatives, software providers and AFSL holders to prosper." AdviserLogic chief executive Daniel Gara said the additional data now available through Simple fund 360 for ...

ASIC slams SMSF advice, flags further education reform

JAMIE WILLIAMSON  |  FRIDAY, 29 JUN 2018
... obligations. Of the 102 licensees, 97 were found to have provided non-compliant advice. ASIC identified several limited AFSL holders and providers operating under a limited authorisation that had also provided deficient advice. As a result ASIC will ...

Multi-disciplinary industry trend continues: CBA

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUN 2018
... superannuation as an opportunity for growth in their business, but 12 months later just 32% said the same. An audit of limited AFSL holders 12 months into the new regime found many were uncertain of their new obligations, particularly the requirement ...

ASIC audits limited AFSLs

KARREN VERGARA  |  THURSDAY, 20 JUL 2017
ASIC recently audited 20 limited AFSL holders to assess how they were faring with their obligations following the removal of an exception for accountants to give advice on SMSFs in July last year. ASIC found licensees were uncertain about steps they ...

We have made mistakes: CBA

KARREN VERGARA  |  TUESDAY, 7 MAR 2017
... misconduct and consequences of guilty misconduct in providing financial advice. Elliott also noted that by July this year, AFSL holders should publicly report significant breaches of their licence obligations, how it occurred, the steps taken to ensure ...

Infocus purchases another advice business

DARREN SNYDER  |  TUESDAY, 5 APR 2016
... group said its succession plan began in 2014 in response to adviser demand for a viable exit strategy within the two AFSL holders operated under Infocus Wealth Management. Infocus managing director and chief executive Rod Bristow said the rationale for ...

CBA follows ASIC's lead in Senate submission

LAURA MILLAN  |  MONDAY, 18 NOV 2013
... financial services industry." The bank detailed that the information would be available to current and prospective AFSL holders who seek to authorise the financial planner under their AFSL. CBA also suggested that ASIC should be the sole custodian and ...