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Showing 31 - 40 of 334 results for "Cancelled"

AFCA highlights 'pattern of delays' in super

ELIZA BAVIN  |  TUESDAY, 29 APR 2025
... touchpoints and customer complaints. "AFCA investigated delays impacting a number of consumers in processing refunds for cancelled share recommendation subscription services, particularly those cancelled within the cooling-off period," it said. In one ...

Federal Court hammers defunct advice firm with $11m penalty

ANDREW MCKEAN  |  MONDAY, 28 APR 2025
... their clients at the forefront. "The size of today's penalty demonstrates the seriousness of this misconduct." ASIC cancelled Equiti Financial Service's Australian financial services licence in November last year.

UGC's AFCA membership to cease

KARREN VERGARA  |  MONDAY, 7 APR 2025
... interests in. He has been banned from working in the industry for 10 years. ASIC has since made interim stop orders and cancelled UGC's AFS Licence (AFSL). In cancelling UGC's licence, ASIC required it to remain a member of AFCA until at least ...

'Incompetent' adviser permanently banned by ASIC

MATTHEW WAI  |  FRIDAY, 14 MAR 2025
... they invest in a "Principal-protected Private Placement Program" which offered high-yield returns. Suetonius' AFSL was cancelled in March 2024 after failing to lodge its financial statements and audit reports for the 2021, 2022, and 2023 financial years. ...

ASIC bans adviser jailed for supplying drugs

MATTHEW WAI  |  FRIDAY, 7 MAR 2025
... (AFSL) since 2008 until it ceased trading due to Shortland's imprisonment, and its AFSL was suspended in 2022 and then cancelled in March 2024. Shortland has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.

ASIC bans Brisbane-based financial services director

ELIZA BAVIN  |  TUESDAY, 25 FEB 2025
... the banning took effect from 19 February 2025 and was recorded on the Banned and Disqualified persons register. ASIC cancelled JB Markets' AFSL from 12 April 2024, however JB Markets has applied for review of ASIC's decision to cancel its licence by ...

Firms treat CSLR as 'insurance policy': FAAA

KARREN VERGARA  |  MONDAY, 2 DEC 2024
... fail to pay an AFCA determination. In essence, a licensee whose determination is paid by the CSLR will have their AFSL cancelled. "There is also another mechanism for some action to be taken, which is the fit and proper person test, applies to financial ...

Systemic issues impact 20k consumers: AFCA

MATTHEW WAI  |  MONDAY, 11 NOV 2024
... Elsewhere, a super fund failed to prove it had notified its members with inactive accounts that their insurance will be cancelled unless they 'opt in' to keep their cover under the PYS legislation. The trustee had supposedly engaged an external mail ...

Queensland-based financial firm loses AFSL

MATTHEW WAI  |  FRIDAY, 25 OCT 2024
... Financial Complaints Authority (AFCA) until 17 October 2025. Understood to have failed to comply with the above, ASIC cancelled the licence on October 18. Next Gen had previously recommended its clients to invest in the Global Capital Property Fund (in ...

ASIC cans timeshare company AFSL

KARREN VERGARA  |  WEDNESDAY, 23 OCT 2024
ASIC cancelled the AFS Licence (AFSL) of timeshare company Ultiqa Lifestyle Promotions, which has been in trouble in the past for providing bad financial advice. Ultiqa's failure to pay an Australian Financial Complaints Authority (AFCA) determination ...