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Showing 441 - 450 of 936 results for "AFSL"

Banned advisers still working in advice: FPA

ELIZABETH MCARTHUR  |  MONDAY, 9 MAR 2020
... including responsible managers. It pointed to evidence from the Royal Commission which showed potential misconduct in relation to AFSL representatives providing general advice, directors, management and other AFSL employees. "The FPA notes that Commissioner ...

Court punishes OTC derivative issuers

HARRISON WORLEY  |  FRIDAY, 28 FEB 2020
Three over-the-counter derivatives providers have been found guilty of contravening their AFSL licences by using account managers to pressure retail investors into purchasing products which lost investors more than $30 million. The Federal Court has ...

Freedom Insurance appoints liquidators

KANIKA SOOD  |  MONDAY, 24 FEB 2020
... Spectrum Wealth Advisors (a subsidiary of Freedom Insurance Group). It also accepted Spectrum's request to cancel its AFSL.

Former licensee boss banned

JAMIE WILLIAMSON  |  TUESDAY, 11 FEB 2020
... to 100 advisers. Surveillance identified serious concerns about the licensee's compliance with its obligations as an AFSL, failing to do all things necessary to ensure financial services provided were done so efficiently, honestly and fairly. Spectrum ...

Separate advice and product: AIOFP

ELIZABETH MCARTHUR  |  FRIDAY, 7 FEB 2020
... poor financial advice and product failures. It proposes each adviser pays $250 per annum, upfront two years in advance. Each AFSL holder pays 0.5% of gross revenue with a funding cap established. And for the product scheme, each provider pays a lump ...

Permanent ban follows alleged SMSF theft

HARRISON WORLEY  |  WEDNESDAY, 5 FEB 2020
... account of a business for which she was the sole director and shareholder, Orchard Accountants. ASIC has also cancelled her AFSL. According to the corporate regulator, Tran failed to co-operate with and assist the Australian Financial Complaints Ombudsman ...

Corrupt adviser banned, AFSL canned

ALLY SELBY  |  TUESDAY, 4 FEB 2020
ASIC has banned a Queensland-based financial adviser from providing financial services for seven years and cancelled the AFS licence of his business. The corporate regulator found that Timothy Shapter had not provided advice in his client's best interests ...

Sargon runs out of steam

KANIKA SOOD, JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2020
... year when Tidswell was pulled up again, this time for its work as promoter of MobiSuper. ASIC alleged that Tidswell and [AFSL licensee] ZIB Financial failed to do all things necessary to ensure the financial services covered by their respective AFSLs ...

J.P. Morgan wins custody mandate

ELIZABETH MCARTHUR  |  THURSDAY, 16 JAN 2020
J.P. Morgan has won a mandate to provide custodial services to an ASX-listed platform and superannuation provider.In a quarterly business update, Xplore Wealth revealed it has a new custodial agreement contract with J.P. Morgan. Xplore said the new ...

NAB revamps superannuation trustee board

KANIKA SOOD  |  TUESDAY, 14 JAN 2020
... Watt as non-executive directors. The appointments come as ASIC cleared NULIS of additional license conditions put on its AFSL nearly three years ago. The regulator is pursuing NULIS in the Federal Court over fees for no service conduct, and also working ...