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Showing 441 - 450 of 1272 results for "AFS"

ASIC takes action against missing woman

ELIZABETH MCARTHUR  |  FRIDAY, 27 NOV 2020
ASIC has taken action against Maliver and its sole director, Melissa Caddick - who has been missing in unclear circumstances for over a week - over concerns investor funds were misappropriated. The Federal Court has made interim orders against Maliver ...

ASIC prepares industry for claims handling law

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
The corporate regulator has released more information to help life insurers and financial advisers adapt to new regulation when handling insurance claims. ASIC's information sheet and consultation paper C12 Proof: Claims Handling and Settling Service ...

Exemptions to AFSLs explained by ASIC

ELIZA BAVIN  |  THURSDAY, 26 NOV 2020
... must be authorised under section 916A of the Corporations Act to provide the financial service by a principal that has an AFS licence covering that particular financial service." ASIC said to determine whether a person can rely on this exemption, the ...

Financial adviser reference checks under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
ASIC has released a consultation paper seeking feedback on reference checking protocols for financial advisers and mortgage brokers. Requiring financial advisers to have reference checks was one of the recommendations to come out of the Royal Commission. ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
A slew of regulation recommended by the Hayne Royal Commission to tighten the reigns in the superannuation industry will come into force with the introduction of a new bill. Introduced in Parliament on November 12, the Financial Sector Reform (Hayne ...

AAT affirms SMSF adviser ban

JAMIE WILLIAMSON  |  WEDNESDAY, 11 NOV 2020
The Administrative Appeals Tribunal (AAT) has upheld a ban imposed by ASIC on an SMSF adviser who failed to disclose significant conflicts of interest. In December 2019, Wayne Blazejczyk was banned by the regulator for five years after he was found ...

The platforms with the most advisers

KANIKA SOOD  |  TUESDAY, 3 NOV 2020
Colonial FirstChoice remains the platform used by the most advisers, with about 11% market share, according to latest Rainmaker estimates. CBA's platform is used by 9835 advisers and 1085 Australian financial services licence. It is followed by ...

Fastest-growing AFSLs in the country

KANIKA SOOD  |  FRIDAY, 30 OCT 2020
New research from Rainmaker Information shows which licensees added the most advisers in the 12 months to September end. And which AFSLs have the biggest market share. Overall, there were 19,357 advisers attached to an AFSL at September end, down 2597 ...

Federal Court freezes investment scam, winds up SMSF operator

ANNABELLE DICKSON  |  TUESDAY, 27 OCT 2020
The Federal Court has frozen the funds of a suspected investment scammer and ordered the winding up of two unlicensed financial services businesses, upon referral from the Australian Securities and Investments Commission (ASIC). The Federal Court has ...

Societe Generale fined over client breaches

ANNABELLE DICKSON  |  WEDNESDAY, 21 OCT 2020
... counts of client money obligation breaches in Sydney's local court and has been ordered to pay $30,000 in addition to further AFS licence conditions imposed by ASIC. The bank breached s993B(1) of the Corporations Act (the Act) on two separate occasions ...