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

Search Results

Showing 31 - 40 of 111 results for "AFS licensees"

Advice from Shartru failed best interests duty, ASIC says

JAMIE WILLIAMSON  |  MONDAY, 31 JUL 2023
... 2012. It added a compliance manager in January of this year, followed by a risk and compliance manager in April. "AFS licensees are responsible for ensuring their representatives comply with financial services laws. ASIC expects licensees to have adequate ...

ASIC updates breach reporting guidelines

KARREN VERGARA  |  FRIDAY, 28 APR 2023
... for financial advisers. The corporate watchdog detailed several changes to Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees, following consultation from the likes of super funds, financial advisers, banks and insurance firms ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... how Binance classified retail and wholesale clients. ASIC chair Joe Longo said it is "critically important that AFS licensees classify retail and wholesale clients in accordance with the law". "Retail clients trading in crypto derivatives are afforded ...

Advice group chief fakes exam result, banned

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
... financial adviser qualified for the extension)," ASIC said. "As a result of this proactive review, the relevant AFS licensees (or where necessary, ASIC) have corrected the authorisation status or cease dates of over 1300 individuals, so that the FAR ...

ASIC FAR to display adviser QTRP status

CHLOE WALKER  |  TUESDAY, 10 JAN 2023
... Board are taken to be QTRPs under transitional provisions. ASIC wrote to each of these advisers and their respective AFS licensees notifying them of their QTRP status. FAR will generally display that these financial advisers can provide tax (financial) ...

ALRC should prioritise advice regulations: FPA

CASSANDRA BALDINI  |  THURSDAY, 8 DEC 2022
... obligations placed on individual financial planning practitioners should be separated from the requirements that apply to AFS licensees and product providers. "The ongoing dialogue between the ALRC, the FPA and the financial services sector more broadly ...

Breach reporting improvements needed: ASIC

JAMIE WILLIAMSON  |  FRIDAY, 28 OCT 2022
... between its commencement and 30 June 2022, only 6% of licensees lodged a report. Further, most reports came from AFS licensees, not credit licensees. Overall, 74% of the reports received came from the same 23 licensees, which were typically larger; just ...

AFSL boss banned by ASIC

CASSANDRA BALDINI  |  TUESDAY, 11 OCT 2022
... entities to pay consumers a total amount of approximately $2.5 million. ASIC deputy chair Sarah Court said directors of AFS licensees must ensure that their firms comply with AFCA determinations. "This is a fundamental obligation of AFS licensees, and ...

Ex-Synchron boss appointed head of Libertas

CASSANDRA BALDINI  |  WEDNESDAY, 14 SEP 2022
... given Osborne's accomplishments in this area, he will also chair the Investment Committees of the group's AFS licensees. This extends to compliance proficiency and assisting the development of support services to self-licensed practices while ...

ASIC releases CCIV guidelines

CASSANDRA BALDINI  |  FRIDAY, 24 JUN 2022
... responsible entities". ASIC said it will now accept re-lodgment of certain proof documents and acknowledged that some AFS licensees with an interest in operating CCIVs may have been recently assessed for a new or varied licence. "In light of this, we ...