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Showing 471 - 480 of 1224 results for "Licensees"

Court confirms Storm Financial founders breached duties

JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... decision reaffirms ASIC's view of the importance of directors' duties and the obligations on financial services licensees." "We hope that, with this decision, the aftermath of the Storm Financial collapse is now at an end." So far, Storm Financial ...

FASEA exam to go online

HARRISON WORLEY  |  THURSDAY, 19 MAR 2020
... understood the delivery of face to face CPD offerings "may be difficult". As a result, FASEA said it was encouraging licensees to take a "supportive" approach to compliance. "In the current extraordinary circumstance licenses will no doubt be reviewing ...

Investment manager criminally charged

ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2020
... Corporations Act 2001. "Client money provisions protect the interests of clients of Australian financial services (AFS) licensees by separating client money from money belonging to licensees," ASIC said. "Breaching client money provisions is serious ...

FASEA rethinks CPD, provides exam update

ELIZABETH MCARTHUR  |  TUESDAY, 17 MAR 2020
... control over the CPD requirement as FASEA is not a monitoring and enforcing body - rather, it is the requirement of licensees to monitor CPD. At this stage, the exams scheduled for 2 April 2020 and 7 April 2020 will proceed in all locations with those ...

Foreign fund managers granted licensing relief

HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
... regime. Overseas firms holding a new foreign entities license will be exempt from some obligations which apply to AFS licensees, including financial requirements, with ASIC satisfied similar regulatory supervision and outcomes will be achieved by equivalent ...

Life commissions, referral fees still kosher: AFA

ELIZABETH MCARTHUR  |  THURSDAY, 27 FEB 2020
... window of opportunity in its guidance when it comes to referrals. The code says that it only applies to individuals, not licensees or corporate authorised representatives. "So the implication is if the referral fee is to the licensee of the CAR instead ...

Count Financial treads new path

JAMIE WILLIAMSON  |  THURSDAY, 20 FEB 2020
... already and is now working with firms to determine where revenue will be redirected to clients. This all forms part of the licensees' new user pays model which it began transitioning to in December with costs so far totaling just over $2 million. About ...

Netwealth gains $9.5bn, reveals expansion plans

ELIZABETH MCARTHUR  |  TUESDAY, 18 FEB 2020
... Netwealth positioned itself as poised to benefit from advisers transitioning from institutionally aligned and owned licensees to privately owned licensees at unprecedented rates. "Advice delivery is changing as consumers demand different engagement and ...

FSC calls for CSLR claims cap

ALLY SELBY  |  FRIDAY, 14 FEB 2020
... greater oversight of appropriate and strong professional indemnity (PI) insurance requirements for financial advice licensees," she said. "The introduction of a CSLR without strengthening the regulatory weaknesses in advice will result in an incredibly ...

Advice industry compresses

ELIZABETH MCARTHUR  |  TUESDAY, 11 FEB 2020
... the financial advice industry in Australia is in a state of compression - as advisers leave in significant numbers and licensees are squeezed. The number of registered financial advisers decreased 15% last calendar year to reach 24,059. The significant ...