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Showing 391 - 400 of 1277 results for "AFS"

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
The corporate regulator has banned a Gold Coast-based adviser for five years and cancelled the group's AFS licence over misconduct. Adam Bevan was an authorised representative and sole director of Trade Wind Financial Services. ASIC banned Bevan after ...

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
ASIC released more information on what financial advisers can expect from the new reference checking laws, which take effect on October 1. New protocols administered by ASIC requires a licensee recruiting a prospective financial adviser to request a ...

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
... remains payable on or after 1 January 2021 must be rebated by a product issuer to a product holder instead of being paid to an AFS licensee or its representatives. During the review period, 89 product issuers paid $760.5 million in GCR relating to 1273 ...

ASIC looks to tighten crypto ETP oversight

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
... disadvantage to LICs," ASIC said. The regulator is also proposing the creation of a new asset kind when it comes to applying for an AFS licence to offer such products, saying existing asset kinds would not suffice. ASIC has also said it will not be issuing ...

ASIC cancels BBY licence

KANIKA SOOD  |  TUESDAY, 29 JUN 2021
The corporate regulator has cancelled the Australian financial services licence held by stockbroker BBY Limited, after suspending it in May 2015 for three years. BBY's AFSL will go until 31 March 2022 only for the purposes of giving clients access to ...

Adviser slapped with four-year ban

KARREN VERGARA  |  MONDAY, 28 JUN 2021
... and future clients". This is despite the fact that Jennings has been working as an adviser since 2009, representing several AFS licensees. The misconduct occurred during the time she was an authorised representative of Meritum (February 2012 to February ...

ASIC removes Societe Generale restrictions

ANNABELLE DICKSON  |  FRIDAY, 25 JUN 2021
The corporate regulator has removed AFS licence conditions imposed on the French bank after it breached client money obligations. As per the licence conditions, Societe Generale appointed an independent expert to assess and test the adequacy and effectiveness ...

Better Advice regulations hit parliament

KARREN VERGARA  |  FRIDAY, 25 JUN 2021
Financial advice regulatory reforms that include establishing one disciplinary body and giving ASIC greater powers over the industry are closer to becoming law. The minister for superannuation, financial services and the digital economy Jane Hume introduced ...

Advisers turn to ETFs during COVID

KARREN VERGARA  |  MONDAY, 21 JUN 2021
Financial advisers' appetite for exchange-traded funds has more than doubled since the global pandemic hit as new trading data shows that index funds are providing better means of diversification. AUSIEX research found that before COVID-19, one ...

Halifax auditors face criminal charges

ELIZABETH MCARTHUR  |  TUESDAY, 8 JUN 2021
Audits of defunct stockbroker Halifax have resulted in the first criminal charges ever laid in Australia for failure to comply with auditing standards. EC Audit and its director Robert Evett have been charged with breaches of auditing standards and ...