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Showing 561 - 570 of 1277 results for "AFS"

Dealer group shuts after advisers depart

KANIKA SOOD  |  FRIDAY, 18 OCT 2019
A dealer group boss decided to close down its Australian Financial Services License after finding it hard to restock advisers with the FASEA education requirements. Queensland-based Myonlineadvisers was started by James Sutherland in 2012 as a non-aligned ...

ASIC nudges robo-adviser to shutter

ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
... required of human advisers - the advice must be appropriate to the client and comply with the best interests duty. "ASIC expects AFS licensees and financial advisers using or recommending digital advice tools to ensure that they adequately monitor and ...

ASIC grants compliance scheme relief

HARRISON WORLEY  |  WEDNESDAY, 16 OCT 2019
ASIC will grant AFS licensees with relief from the obligation to ensure their financial advisers are covered by a compliance scheme. As part of the government's decision late last week to accelerate the establishment of a single disciplinary body for ...

FASEA ethics pose risk to managed accounts

ELIZABETH MCARTHUR  |  MONDAY, 23 SEP 2019
The Institute of Managed Accounts Professionals (IMAP) has made a submission to the Financial Adviser Standards and Ethics Authority, questioning its consideration of conflicts of interest in the Code of Ethics. IMAP said Standard 3 in the FASEA Code ...

ASIC prepares to be primary super conduct regulator

ELIZABETH MCARTHUR  |  THURSDAY, 12 SEP 2019
ASIC commissioner Sean Hughes has made it clear the regulator is already positioning itself to be the primary conduct regulator in superannuation. Speaking at a Risk Management Association Australia event yesterday, Hughes said ASIC's role in regulating ...

Consultation opens on new ASIC powers

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 SEP 2019
... or credit business, expanding the grounds on which ASIC can ban people. Finally, giving false or misleading statements in AFS and credit licence applications will be brought into line under the proposed legislation. Consultation on the legislation is ...

Queensland-based AFSL suspended

ELIZABETH MCARTHUR  |  TUESDAY, 10 SEP 2019
ASIC has suspended the AFS licence of a Queensland-based financial advice practice over concerns it was not meeting its obligations as a licensee. The regulator said Financial Options Pty Ltd failed to lodge its accounts and audit report for the year ...

Boutique AFSL acquires advice practice

JAMIE WILLIAMSON  |  THURSDAY, 5 SEP 2019
A boutique financial advice group has acquired a Parramatta-based firm focused on risk advice. Profile Financial Services has acquired Orion Financial Group, a risk-focused advice practice established 35 years ago in Parramatta. The Orion Financial ...

Perth adviser to face court

KANIKA SOOD  |  THURSDAY, 5 SEP 2019
A Perth financial adviser allegedly stole nearly $1 million from clients and transferred it to his online gambling accounts, according to the Western Australian Police Force (WAPF). The 38-year old adviser, who was not named but identified as a Yanchep ...

Suncorp pays $1.4m remediation bill

JAMIE WILLIAMSON  |  TUESDAY, 3 SEP 2019
... to retail clients was defective. ASIC was concerned Guardian Advice had failed to comply with its general obligations as an AFS licensee, including monitoring and supervising its representatives and ensuring they were adequately trained or competent. ...