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Showing 471 - 480 of 1277 results for "AFS"

AMP, CBA, Westpac face potential class action

ELIZA BAVIN  |  TUESDAY, 11 AUG 2020
The financial advice arms of AMP, Commonwealth and Westpac are all facing a potential class action from law firm Piper Alderman. The law firm is calling on any customers who have acquired, renewed or continue to hold a financial product on recommendation ...

Pershing convicted for client breaches

ANNABELLE DICKSON  |  THURSDAY, 6 AUG 2020
... account during sentencing. The Corporations Regulations mandates that client money must be paid into a client money account and AFS licence holders can only make payments out of a client money account. Magistrate Atkinson said it was Pershing's responsibility ...

ASIC terminates illegal investment scheme

ALLY SELBY  |  WEDNESDAY, 29 JUL 2020
The Federal Court has taken action to dissolve an unregistered investment scheme operated by a former AMP authorised representative. MyWealth Manager was operated by Mustafa Mohammed, along with Mahek Mustafa, Mubashir Mohammed. The scheme related to ...

Debt vulture crackdown welcome

ELIZABETH MCARTHUR  |  WEDNESDAY, 29 JUL 2020
... care about their customers." Many for-profit debt assistance providers do not hold a current Australian financial services (AFS) licence or Australian credit licence from ASIC, despite often appearing to provide services that require a license. Now there ...

New class action regulations slammed

ALLY SELBY  |  FRIDAY, 24 JUL 2020
Class Actions Australia has slammed new regulations announced by Treasurer Josh Frydenberg defining class actions as "managed investment schemes" labelling them "bizarre", as the Senate holds its second public hearing into litigation funding and the ...

ASIC suspends OTC derivatives issuer

ANNABELLE DICKSON  |  TUESDAY, 21 JUL 2020
... clients of Union Standard. At this stage no new accounts, deposits, withdrawals or positions will be taken. Union Standard held AFS license 302792 and may apply to the Administrative Appeals Tribunal for a review of the decision.

Forex Capital to face Federal Court

ALLY SELBY  |  FRIDAY, 17 JUL 2020
... declarations that Forex CT engaged in misleading or deceptive conduct and, as the holder of an Australian Financial Services (AFS) licence, contravened its obligations under s912A of the Corporations Act," the corporate watchdog said. "This includes ...

New partner at Stanford Brown

ALLY SELBY  |  THURSDAY, 9 JUL 2020
Advice firm Stanford Brown has appointed a new partner with over two decades of experience. Todd Stanford has nabbed the promotion, after just over one year with the firm. Stanford Brown chief executive Jonathan Hoyle congratulated Stanford on his promotion. ...

AMP should stop whining: Slater and Gordon

ELIZABETH MCARTHUR  |  THURSDAY, 2 JUL 2020
Law firm Slater and Gordon has slammed AMP chief executive Francesco De Ferrari's criticism of litigation funding and class actions, as AMP continues to battle lawsuits sparked by the Royal Commission. Slater and Gordon head of class actions Ben Hardwick ...

Implemented Portfolios partners with Wealth Today

ELIZA BAVIN  |  THURSDAY, 2 JUL 2020
Implemented Portfolios (IPL) has entered into an agreement with Wealth Today to provide their financial advisers with an individually managed account (IMA) offering. The managed account provider was added to the Wealth Today approved product list and ...