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Showing 521 - 530 of 940 results for "AFSL"

Banks move to derisk, workforces shrink

KANIKA SOOD  |  MONDAY, 25 MAR 2019
Australian employment figures and economic outlook could take a hit as major banks move to derisk their businesses by hiving off wealth and financial advice businesses. Westpac has announced it is exiting personal financial advice. Commonwealth Bank ...

Westpac exits personal advice, restructures leadership

JAMIE WILLIAMSON  |  TUESDAY, 19 MAR 2019
... including 90 advisers, will move to Viridian - the group currently has about 330 authorised representatives attached to its AFSL. The sale is expected to be complete by June 30, and some Securitor and Magnitude authorised representatives may also move ...

Liquidation likely for Halifax

HARRISON WORLEY  |  FRIDAY, 15 MAR 2019
... investors on the future of the beleaguered online stockbroking firm, with signs pointing to liquidation. The firm - whose AFSL was suspended shortly after it went into voluntary administration in November 2018 - was found to have $19.7 million worth ...

New retirement loan launches

KARREN VERGARA  |  WEDNESDAY, 6 MAR 2019
... product, Funder said, as Household Capital operates under an Australian credit licence and financial advisers are governed by an AFSL. In delivering financial advice versus credit advice, advisers need to think about the long-term objectives of clients ...

Consultation opens for claim handling changes

HARRISON WORLEY  |  MONDAY, 4 MAR 2019
The Federal Government has opened consultation on a proposal to remove the exclusion of insurance claims handling from the definition of financial service. Industry stakeholders were worried about the unintended consequences of removing the exclusion ...

ASIC releases AFSL approval data

JAMIE WILLIAMSON  |  FRIDAY, 1 MAR 2019
... intelligence, Warren Day said: "ASIC's licensing function provides the first gateway to ensuring applicants seeking an AFSL...meet minimum standards to offer regulated services." "We help protect consumers by ensuring an appropriate level of scrutiny ...

ClearView posts first half profit dip

KANIKA SOOD  |  WEDNESDAY, 27 FEB 2019
... 4% on the back of poor performance and subdued inflows. Clearview added a new range of model portfolios and expanded its AFSL footprint in the period, and repriced products. "Repricing and enhancement of contemporary wealth management product ranges ...

AFCA hears legacy complaints

KANIKA SOOD  |  THURSDAY, 21 FEB 2019
... is reduced to two years." In his final report Commissioner Hayne recommended that Australian financial services licence (AFSL) holders should be obliged to take reasonable steps to co-operate with AFCA in its resolution of particular disputes including ...

Futuro ends AMP alignment

JAMIE WILLIAMSON  |  THURSDAY, 21 FEB 2019
... 2015 as a result of "huge industry changes." Since then, AMP has wound down its interest in Futuro and the Brisbane-based AFSL is now non-aligned. "Closing this chapter in Futuro's history has taken a number of years, with the desired outcome always ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
The corporate regulator is appealing last year's landmark Federal Court decision, determined to prove two Westpac subsidiaries provided personal financial advice despite not being licensed to do so. In December 2018, Justice Jacqueline Gleeson determined ...