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Showing 31 - 40 of 1666 results for "licensee"

Unlisted asset valuation practices under review

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
APRA has confirmed it will conduct a "deep dive review" of funds' exposures to unlisted assets later this year. Combining its policy and supervision priorities for the first time to give regulated entities a better idea of what to expect in the year ...

AI is not the 'Wild West': Longo

CHLOE WALKER  |  THURSDAY, 1 FEB 2024
Despite the rapid progress of artificial intelligence (AI), existing obligations around good governance and the provision of financial services remain robust, according to ASIC chair Joe Longo. Addressing the crowd yesterday at the UTS Human Technology ...

Penta Capital fined for fabricated FUM

KARREN VERGARA  |  MONDAY, 22 JAN 2024
... file civil penalty proceedings," ASIC said. ASIC clarified that Penta Capital "is not an Australian financial services licensee or authorised representative". Its associated entities Penta Asset Management and SEQ Asset Management were authorised representatives ...

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
ASIC has again pushed back the financial adviser registration deadline in fear that many relevant providers will not make the February 1 cut off. The 4036 advisers who as of January 18 have outstanding registrations, according to ASIC, now have until ...

Advisers urged to check ASIC registration status

JAMIE WILLIAMSON  |  THURSDAY, 18 JAN 2024
... Register. While all advisers registered with the Tax Practitioners Board (TPB) as at 1 January 2022 and have no changed licensee are automatically registered, the FAAA estimates almost 6000 advisers are yet to be registered by their licensee. If they ...

Powerwrap bleeds $334m in outflows

KARREN VERGARA  |  WEDNESDAY, 17 JAN 2024
Praemium's platform dedicated to the high-net-worth segment, Powerwrap, has lost $334 million in funds under administration (FUA) after a small number of financial advisers switched advice groups. The ASX-listed firm said the exit of advisers in the ...

Government proposes framework for clearing and settlement services regulation

ANDREW MCKEAN  |  WEDNESDAY, 17 JAN 2024
The government has released the Corporations and Competition (CS Services) Instrument 2024, a new legislative proposal aimed at regulating clearing and settlement (CS) services. The proposed instrument, issued under the authority of assistant treasurer ...

HUB24 sets sights on $100bn FUA

KARREN VERGARA  |  TUESDAY, 16 JAN 2024
HUB24 is confident that it is on track to reach a $100 billion funds under administration milestone in 2025. In a quarterly update released this morning, the investments platform announced it hit $91.2 billion at the end of December 2023, up 25% year ...

ASIC permanently bans adviser who stole client funds

JAMIE WILLIAMSON  |  MONDAY, 8 JAN 2024
A financial adviser based on Queensland's Hope Island was permanently banned by the corporate watchdog after he was found to have misled clients about potential returns and used their funds for his own expenses. Delan Pagliaccio is banned from providing ...

Treasury to refresh financial adviser exam

KARREN VERGARA  |  MONDAY, 18 DEC 2023
The financial adviser exam is due for some changes as Treasury bids to make it more flexible. The consultation, which is open until 10 January 2024, is proposing several changes under the Corporations (Relevant Providers-Education and Training Standards) ...