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Showing 401 - 410 of 1904 results for "licensee"

No surprise advice industry fears ASIC: Panel

CASSANDRA BALDINI  |  FRIDAY, 23 SEP 2022
Understanding and fixing regulatory uncertainty and licensee caution has been a subject discussed at length within the advice community in recent years, with AFCA saying it isn't surprised by the level of fear in the industry when it comes to ASIC. ...

Current legislation "wrong way around": Levy

CASSANDRA BALDINI  |  THURSDAY, 22 SEP 2022
... you're making a recommendation, you're likely to be giving personal advice," she added. "The question for the licensee, the bank, insurer, superannuation trustees is, 'What do I need to do to be satisfied that the advice that's been given ...

AMP cops $14.5m penalty over fees for no service

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
Five AMP companies will pay $14.5 million for charging close to 1500 superannuation members fees for no service over the course of about three years. The Federal Court handed the fine to AMP Superannuation, AMP Financial Planning, Charter Financial ...

Dixon Advisory pays $7m for poor advice

JAMIE WILLIAMSON  |  TUESDAY, 20 SEP 2022
Dixon Advisory will pay $7.2 million for providing inappropriate advice and not meeting client best interests obligations. The Federal Court found that six Dixon Advisory representatives did not act in the best interests of eight clients on 53 occasions. ...

Consultation opens on crypto regulation bill

ANDREW MCKEAN  |  MONDAY, 19 SEP 2022
... issue requirements dictate that the full amount of the face value of the liabilities for the stablecoin on issue from the licensee must be held in reserve, in financial institutions licensed by APRA. The Act also targets the e-Yuan, the first CBDC to ...

Ex-Synchron boss appointed head of Libertas

CASSANDRA BALDINI  |  WEDNESDAY, 14 SEP 2022
Former Synchron general manager Phil Osborne has been appointed to head up Sequoia Financial Group's licensee, Libertas Financial Planning. Osborne, who resigned from Synchron in June after just five months, will support the ongoing development of advisers ...

CSLR legislation tabled, advice sector responds

ANDREW MCKEAN  |  FRIDAY, 9 SEP 2022
The government has advanced its commitment to establish a Compensation Scheme of Last Resort (CSLR), releasing for consultation exposure draft regulations. The CSLR will facilitate the payment of compensation of up to $150,000 to eligible consumers ...

Super fund disclosure rules finalised

ANDREW MCKEAN  |  MONDAY, 5 SEP 2022
Regulations relating to requirements for superannuation funds to disclose expenditures with the Annual Member's Meeting notice have been updated. Last month, the government published draft regulations for consultation. As previously reported by Financial ...

Increasing number of advisers look to self-licence

JAMIE WILLIAMSON  |  MONDAY, 5 SEP 2022
About 70% of the financial advisers that are looking to leave their licensee are planning to go it alone, research shows. According to Investment Trends' Adviser Business Model Report, about 70% of those looking to move in the next 12 months plan to ...

Latest adviser exams see 52% pass rate

JAMIE WILLIAMSON  |  THURSDAY, 1 SEP 2022
... that were unsuccessful can no longer provide personal financial advice and must have their authorisation ceased by their licensee by September 30. They will then need to pass the exam in order to become reauthorised to provide personal advice. However ...