Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 21 - 30 of 134 results for "Financial product advice"

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... fails." JB Markets had held its AFSL since 8 July 2008. The licence authorised JB Markets to provide financial product advice, deal in financial products, make a market in financial products and operate custodial or depository services for retail and ...

Super advice fee deductions compound red tape: JAWG

KARREN VERGARA  |  MONDAY, 8 APR 2024
... account and ensure that such fees are not taxable benefits for members. The regulation mandates that the financial product advice "must be personal advice that is wholly or partly about the member's interest in the fund" and replaces current requirements ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... accepted more than $730,000 in conflicted remuneration from the referral agreement. The SMSF Club provided financial product advice and accounting and administrative services for SMSFs. Between August 2013 and 29 July 2013, SMSF Club was an authorised ...

ASIC takes further action on Prospero

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... exchange contracts, deal in derivatives and foreign exchange contracts on behalf of clients and provide financial product advice in relation to these instruments. ASIC has asked the court to appoint Andrew Cummins, Jonathon Keenan, and Peter Krejci from ...

Former financial adviser sanctioned by ASIC

ANDREW MCKEAN  |  THURSDAY, 22 FEB 2024
... advice. The regulator said that Jaidka didn't act in the best interests of his clients when providing financial product advice, as evidenced by his inadequate consideration of their specific circumstances. Moreover, he failed to deliver financial product ...

Former director pleads guilty to hedge fund con

JAMIE WILLIAMSON  |  WEDNESDAY, 14 FEB 2024
... Proprietary Trading, ACY Securities, AxiTrader and City Index. Despite not having a licence to provide financial product advice, Sandiford told prospective investors that they could invest it in either a 'hedge fund' or an 'income fund'. Investing in ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
... by entering into the co-ownership agreements. ASIC was also concerned that iExtend may have provided financial product advice without a licence, and that iExtend may look to provide a claims handling and settling service in the future. iExtend chief ...

ASIC investigates iExtend over possible unlicensed conduct

CHLOE WALKER  |  THURSDAY, 23 NOV 2023
... agreement with policyholders. The undertaking shows ASIC is also concerned that iExtend may have provided financial product advice without a licence, and that iExtend may look to provide a claims handling and settling service in the future. Around the ...

ASIC strips institutional broker's AFSL

ANDREW MCKEAN  |  THURSDAY, 16 NOV 2023
... including professional indemnity insurance coverage. The institutional broker, formerly authorised to provide financial product advice and custodial services to both retail and wholesale clients, retains the right to seek a review of ASIC's decision ...

K2 told to freeze distribution of fund

JAMIE WILLIAMSON  |  MONDAY, 4 SEP 2023
... condition which stated the product is only suitable for distribution to consumers who have received general financial product advice. ASIC considered the TMD fails to set out distribution conditions for direct-to-consumer distribution or distribution ...