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Showing 521 - 530 of 1277 results for "AFS"

Freedom Insurance appoints liquidators

KANIKA SOOD  |  MONDAY, 24 FEB 2020
The troubled insurer has voluntarily appointed liquidators, who have received resignations from Pauline Vamos and two other directors. Wested Advisors' Joseph Hayes and Andrew McCabe were appointed as liquidators, according to an ASX announcement ...

Former licensee boss banned

JAMIE WILLIAMSON  |  TUESDAY, 11 FEB 2020
... resources to meet its licence obligations, ASIC said. "ASIC expects that people holding a position of responsibility with an AFS licensee, particularly directors and responsible managers, understand the obligations of financial services providers and ...

Separate advice and product: AIOFP

ELIZABETH MCARTHUR  |  FRIDAY, 7 FEB 2020
The Association of Independently Owned Financial Professionals wants product failures and financial losses from those failures factored into the Compensation Scheme of Last Resort. The AIOFP said it agrees with the "general thrust" of the Compensation ...

Permanent ban follows alleged SMSF theft

HARRISON WORLEY  |  WEDNESDAY, 5 FEB 2020
A Sydney-based financial adviser has been permanently banned for allegedly transferring client SMSF funds to the trust account of a business she controlled. ASIC has permanently banned Sydney adviser Tram Tran, after it found the funds of her clients ...

Corrupt adviser banned, AFSL canned

ALLY SELBY  |  TUESDAY, 4 FEB 2020
ASIC has banned a Queensland-based financial adviser from providing financial services for seven years and cancelled the AFS licence of his business. The corporate regulator found that Timothy Shapter had not provided advice in his client's best interests ...

Sargon runs out of steam

KANIKA SOOD, JAMIE WILLIAMSON  |  THURSDAY, 30 JAN 2020
Philip Kingston's Sargon has been forced into external administration by one if its Chinese creditors. In a statement to Financial Standard, Sargon said one of its creditors, Chinese state-owned insurance company Taiping Trustees has appointed McGrathNicol ...

J.P. Morgan wins custody mandate

ELIZABETH MCARTHUR  |  THURSDAY, 16 JAN 2020
J.P. Morgan has won a mandate to provide custodial services to an ASX-listed platform and superannuation provider.In a quarterly business update, Xplore Wealth revealed it has a new custodial agreement contract with J.P. Morgan. Xplore said the new ...

NAB revamps superannuation trustee board

KANIKA SOOD  |  TUESDAY, 14 JAN 2020
NULIS Nominees has added a former Vanguard Australia director and three other non-executive directors to its board, as ASIC chases it in Federal Court. NULIS, which oversees NAB's superannuation funds with $75 billion in assets under management ...

YBR exits wealth, sells for $2.5 million

ELIZABETH MCARTHUR  |  MONDAY, 6 JAN 2020
Mark Bouris' Yellow Brick Road is shuttering its wealth business to focus on mortgages, entering into a sale agreement for a sum of approximately $2.5 million. YBR Wealth's share of rights to the recurring revenue streams derived from its wealth advice ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
Westpac has been ordered by the Federal Court of Australia to pay $9.15 million over poor financial advice provided by just one former adviser. The court case relates to poor financial advice provided by Sudhir Sinha which breached the best interest ...