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Showing 471 - 480 of 940 results for "AFSL"

Dover, McMaster found guilty

JAMIE WILLIAMSON  |  FRIDAY, 22 NOV 2019
... contraventions of section 1041H or section 12DA. A further hearing is to be scheduled in regards to pecuniary penalties. Dover's AFSL was cancelled on 1 August 2018, following a letter from McMaster to ASIC requesting the immediate cancellation on ...

Many benefits to going your own way: CMC Markets

ELIZABETH MCARTHUR  |  WEDNESDAY, 20 NOV 2019
CMC Markets Head of Partners and Institutional APAC, Andrew Shade has commented on the benefits of financial advisers moving away from large financial institutions following the Royal Commissions. He highlighted three key benefits that are driving the ...

Total Financial Solutions to shutter next year

ELIZA BAVIN  |  TUESDAY, 19 NOV 2019
... offered the opportunity to join Count Financial and we are working respectfully with these firms to assist them join another AFSL." The average gross business earnings of the mentioned firms are $763,000. "TFS has undertaken its own transformation in ...

Registration deadline extended: ASIC

ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
ASIC has told Australian financial services licensees that they will not be in breach of the law because their financial advisers were not able to register with ASIC-approved compliances schemes. The original deadline for registering was 1 January 2020. ...

Trustee firm, super fund in hot water

JAMIE WILLIAMSON  |  WEDNESDAY, 6 NOV 2019
... Grover. Tidswell is owned by Sargon and holds an extended public offer entity RSE licence under the SIS Act, as well as an AFSL issued by ASIC. Its model is to partner with promoters to offer new super products. While it operates the fund, the promoter ...

Adviser moves show industry upheaval

ELIZABETH MCARTHUR  |  TUESDAY, 5 NOV 2019
... Services Partners. One went to Australian Unity Personal Finance, one to Industry Fund Services and one to VicSuper. Another AFSL, Smart Solutions, showed 18 advisers registered in July but had ceased by October. Equipsuper went from four aligned advisers ...

RI Advice faces ASIC action

JAMIE WILLIAMSON  |  THURSDAY, 31 OCT 2019
... to IOOF. ASIC said RI Advice did not take reasonable steps in response and, further, contravened general obligations as an AFSL holder. The regulator is seeking compliance orders from the Federal Court to prevent contraventions in future. RI Advice faces ...

ASIC imposes AFSL conditions on IOOF

JAMIE WILLIAMSON  |  MONDAY, 28 OCT 2019
The corporate regulator has imposed additional licence conditions on IOOF Investment Services to improve conflicts management. According to ASIC, IOOF Investments Services Limited (IISL) sought a variation of its licence in order to transfer a managed ...

Whistleblower calls out approved product lies

ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
A new paper on the consumer impact of Approved Product Lists (APLs) claims institutionally-aligned Australian Financial Services Licensees (AFSLs) are funneling new clients into in-house products, potentially in breach of Best Interest Duty obligations. ...

Dealer group shuts after advisers depart

KANIKA SOOD  |  FRIDAY, 18 OCT 2019
... starting, we knew that it would be difficult to find good quality advisers who shared our ethos and wanted to join a new AFSL such as ours," Sutherland told Financial Standard. Sutherland said he helped the remaining advisers find a new AFSL. He himself ...