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Showing 541 - 550 of 1277 results for "AFS"

FASEA under pressure on managed accounts

ELIZABETH MCARTHUR  |  WEDNESDAY, 4 DEC 2019
The Financial Adviser Standards and Ethics Authority is under pressure to clarify its stance on all forms of managed accounts. FASEA chief executive Stephen Glenfield confirmed he has met with the Institute of Managed Account Professionals and is considering ...

Cashwerkz, Complii partner to automate compliance

ALLY SELBY  |  TUESDAY, 3 DEC 2019
Listed fintech Cashwerkz has partnered with Complii FinTech Solutions; a secure, centralised digital platform, to automate the compliance process for stockbrokers and financial advisers. Complii software automates, records and reports on regulation ...

Non-compliant personal advice rife at super funds: ASIC

JAMIE WILLIAMSON  |  TUESDAY, 3 DEC 2019
Just 49% of the files looked at by ASIC as part of its review of financial advice provided by super funds were found to be compliant with best interests duty. Reviewing the personal advice provided by 21 super funds, ASIC's Report 639: Financial ...

New tool launches to help FASEA code compliance

ELIZABETH MCARTHUR  |  MONDAY, 2 DEC 2019
... organisation is MyNextAdvice, which has launched a solution to help licensees monitor adviser compliance. "ASIC has mandated that AFS Licensees are responsible for monitoring adviser compliance with the code until the Government establishes a central ...

How it can all go wrong

KANIKA SOOD  |  THURSDAY, 28 NOV 2019
In the most-talked about session on the FPA Congress program, former Queensland adviser James Cribb sat down with his lawyer Rhett Das to explain how he came to be banned and what he wishes he'd done differently. In July last year, Cribb was banned ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...

FASEA chief to provide update

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 NOV 2019
... adviser for breaches of the code. "Financial advisers will still be required to comply with the code from 1 January 2020 and AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code," ...

Paraplanners tackle compliance challenges

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 NOV 2019
The role of paraplanners in compliance has been highlighted at the FPA Congress, with discussion turning to the FASEA Code of Ethics which continues to present complications. Nadia Docker is director, client engagement at Integrity Compliance and part ...

ASIC outlines Code of Ethics expectations

ELIZA BAVIN  |  TUESDAY, 26 NOV 2019
... the code. "As announced on 14 November 2019, ASIC has taken action to provide certainty to Australian financial services (AFS) licensees that they will not be in breach of the law because their financial advisers were not able to register with an ASIC-approved ...

Dover, McMaster found guilty

JAMIE WILLIAMSON  |  FRIDAY, 22 NOV 2019
The Federal Court has found Dover Financial Advisers and Terry McMaster guilty in the case brought against them by ASIC. In a judgement handed down on Friday, Dover Financial Advisers and Terry McMaster have been found guilty of false, misleading and ...