Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 31 - 40 of 162 results for "AFS Licensee"

AFSLs undertake more reviews, lack risk documentation

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
Most AFS Licensees (AFSLs) are undertaking more reviews of their systems and processes but still lack documentation when it comes to managing risk, according to a new compliance survey. Holley Nethercote's 2024 Compliance Trends Survey reveals AFSLs ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... investigation found that between June 2018 and September 2022, XTrade failed to comply with its general obligations as an AFS licensee and engaged in unconscionable conduct. ASIC said XTrade failed to take reasonable steps to ensure that its representatives ...

Former Life Plan FP adviser cops ban

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... provide advice that was appropriate to clients, did not prioritise the interest of clients above his own or that of his AFS Licensee. Nabi also gave clients a disclosure statement that contained misleading or deceptive statements. ASIC ultimately found ...

ASIC issues experienced pathway guidance

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has released new guidance for financial advisers who could potentially qualify as experienced providers and skip further education and training. The regulator today released Information Sheet 281 FAQS: Relevant providers - Accessing the experienced ...

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... financial statements and audit reports. ASIC also believes that Everest will likely contravene its obligations as an AFS licensee in the future. Under the AFSL, Everest had authority to advise and deal in managed investment schemes. "Under the Corporations ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services Licence (AFSL) of JB Markets effective from 12 April 2024. ASIC said JB Markets failed to comply with the financial requirements of its AFSL ...

Tranche one of advice reforms hits parliament

KARREN VERGARA  |  WEDNESDAY, 27 MAR 2024
... in the Corporations Act to explicitly provide that both monetary and non-monetary benefits given by a client to an AFS Licensee or a representative of a licensee are not conflicted remuneration. The final strand of the bill will implement standard consent ...

ASIC chases 757 adviser registrations

KARREN VERGARA  |  FRIDAY, 9 FEB 2024
... providers who were not registered in early February, reminding them of the requirement to be registered by their AFS Licensee. "ASIC encourages relevant providers to check their registration status on the Financial Advisers Register today to ensure that ...

Unlicensed crypto investor faces jail time

CHLOE WALKER  |  TUESDAY, 6 FEB 2024
... counsellors, not by individuals or corporations who neither hold an AFS licence, nor are authorised representatives of an AFS licensee," it said. "Crypto assets are highly speculative investments... ASIC urges Australians to invest with caution." Hala ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
... Corporate Authorised Representative (CAR) arrangement for the interim. A CAR enables iExtend to act as an agent of an AFS Licensee, meaning it is authorised to provide specific financial services outlined in their agreement with the licensee. These services ...