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Showing 481 - 490 of 980 results for "AFSL"

Super scammers pose as authorities

HARRISON WORLEY  |  FRIDAY, 27 MAR 2020
... there's no way anybody who looked me up on Google would go 'This guy would be a good mark.'" Craggs asked the scammer for his AFSL number. "He literally could not repeat back AFSL to me," Craggs said. "I said do you understand the anti-hawking provisions? ...

AFSL suspended by ASIC

ALLY SELBY  |  MONDAY, 23 MAR 2020
A Queensland-based financial services provider has had its AFS licence suspended, impacting close to 20 financial advisers. ASIC has suspended the AFS licence of Longhou Capital Markets for three months, expiring June 12 this year. It follows the appointment ...

Early access to super scheme results in permanent ban

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
... financial advice. In May 2009 ASIC hit Goldenberg with a permanent ban from providing financial services and cancelled the AFSL of his company Concentric Wealth Management. He was found to have failed to provide appropriate advice to a client and he ...

Foreign fund managers granted licensing relief

HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
... allowed to persuade entities with more than $10 million in net assets to invest in overseas vehicles. They will not require and AFSL to do so. Clients they would be able to work with include responsible entities of registered schemes and trustees of ...

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 ...