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Showing 461 - 470 of 980 results for "AFSL"

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
ASIC has cancelled the Australian financial services licenses of Western Australia-based, Personal Risk Management and Melbourne-based Australian Golden Securities ASIC said Personal Risk's cancellation took effect on 21 May 2020, after the company ...

ASIC takes action on two AFSLs

ELIZA BAVIN  |  FRIDAY, 29 MAY 2020
... covered by their licence and to conduct their business in compliance with law. ASIC said it decided not to cancel the companies AFSL because the licensee has indicated that it may recommence providing financial services. "Forex Plus will be required ...

Government offers guidance provision relief

HARRISON WORLEY  |  TUESDAY, 26 MAY 2020
... announced the removal of exemptions in the Corporations Act which allow litigation funders to operate outside the Act, without an AFSL. Frydenberg said the government wants more regulatory oversight of litigation funders. By removing the exemptions ...

Adviser banned for five years

ELIZA BAVIN  |  TUESDAY, 26 MAY 2020
A financial adviser who cycled through seven AFSLs in nine years has been banned after ASIC found he provided poor SMSF advice and based insurance advice on the commission he'd receive. The five-year ban follows ASIC surveillance of advice provided ...

Litigation funders will need AFSLs

ELIZABETH MCARTHUR  |  FRIDAY, 22 MAY 2020
... litigation funders to be subject to greater regulatory oversight. "Litigation funders are currently exempt from holding an AFSL and being categorised as a managed investment scheme," Frydenberg said. "As a result, litigation funders do not face the same ...

ASIC revokes AFSL suspension, cancels another

ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
ASIC has cancelled the AFSL of a financial services provider and revoked its suspension of a separate AFSL. The regulator revoked the ASFL of NSW-based Tailormade Financial Strategies, effective 9 April 2020. ASIC said it cancelled the AFSL because ...

ASIC releases weekly regulatory tracker

ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
... regulatory changes, including to market integrity rules, implementing recommendations from the Royal Commission and guidance on AFSL requirements. ASIC said it remains committed to focusing its efforts on COVID-19 related regulatory issues until at least ...

AFSL pleads guilty to mishandling client money

KANIKA SOOD  |  THURSDAY, 7 MAY 2020
In the first case of its kind in Australia, an AFSL is facing criminal prosecution for mishandling client monies, and has pleaded guilty. Pershing Securities Australia Pty Ltd (PSAL) pleaded guilty at the Downing Centre Local Court in Sydney to mishandling ...

Former AFSL director banned

ELIZA BAVIN  |  TUESDAY, 5 MAY 2020
ASIC has cancelled the AFSL of Olive Financial Markets following concerns that it had not complied with its obligations as an AFS licensee and that it was likely to contravene its obligations in the future. Olive Financial applied to the Australian ...

Compliance worse than COVID-19

ALLY SELBY  |  THURSDAY, 23 APR 2020
Regulatory and compliance burden is a bigger challenge and disruption for financial advisers than COVID-19, the global pandemic that has ripped both economies and lives to shreds. In an interview with Financial Standard, Investment Trends research director ...