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Showing 541 - 550 of 1907 results for "licensee"

ASIC prepares licensees for reference checks

KARREN VERGARA  |  WEDNESDAY, 21 JUL 2021
... expect from the new reference checking laws, which take effect on October 1. New protocols administered by ASIC requires a licensee recruiting a prospective financial adviser to request a reference about the candidate from the referee licensee. ASIC ...

FAR draft legislation released

KANIKA SOOD  |  MONDAY, 19 JUL 2021
The government on Friday released the draft legislation for the Financial Accountability Regime (FAR) which will apply to superannuation funds and insurers. The FAR extends the Banking Executive Accountability Regime (BEAR) which has applied to banks ...

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
... payable on or after 1 January 2021 must be rebated by a product issuer to a product holder instead of being paid to an AFS licensee or its representatives. During the review period, 89 product issuers paid $760.5 million in GCR relating to 1273 products. ...

Netwealth FUA, inflows rise

ANNABELLE DICKSON  |  THURSDAY, 8 JUL 2021
... picked up for the quarter reaching $3.1 billion, up from $2.3 billion in March and a 102% increase to the PCP. The largest licensee accounted for around 12% of inflows. Total funds under management increased $1.2 billion over the quarter to $11.7 billion ...

AFA slams new SOA measures

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
The Association of Financial Advisers has hit back at ASIC and APRA for causing "confusion" and "interfering" with financial advice as they look to introduce new changes to Statements of Advice. The association points to the regulators' joint letter ...

FYG expands network

KARREN VERGARA  |  WEDNESDAY, 7 JUL 2021
... has added a Victorian financial advice firm to its stable. Based in Chadstone, Prosperity Planners now operates under licensee FYG. Christopher Bailey, co-founder and financial planner, set up Prosperity in May and prior to that was an adviser and client ...

ASIC announces advice affordability findings

KARREN VERGARA  |  TUESDAY, 6 JUL 2021
ASIC has revealed the major concerns of financial advisers in making advice more affordable following its nine-month review. In an effort to provide consumers access to good quality and affordable financial advice, the corporate regulator unveiled its ...

CFS unveils new leadership team

KARREN VERGARA  |  MONDAY, 5 JUL 2021
Colonial First State unveiled a new leadership team to help transform the business, which includes the appointment of a chief executive for CFS Superannuation. General manager of product Kelly Power has been promoted to chief executive for CFS Superannuation ...

More advisers exit in June

KARREN VERGARA  |  MONDAY, 5 JUL 2021
... Lonsdale (119) and Shadforth Financial Group (137) and Bridges Financial Services (193). This makes IOOF the largest licensee after it finalised its acquisition of MLC Wealth in early June 2021. Interprac Financial Planning netted a loss of 22 advisers ...

Westpac in fresh $87m remediation program

KARREN VERGARA  |  FRIDAY, 2 JUL 2021
The failure of Westpac's former advisers to pass on corporate actions to clients for more than a decade will see the big bank pay a hefty bill. The $87 million that will be remediated affects 32,000 customer accounts, ASIC announced this morning ...