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Showing 41 - 50 of 142 results for "AFS Licence"

ASIC issues warning to finfluencer sponsors

KARREN VERGARA  |  WEDNESDAY, 10 NOV 2021
... risks," she said. The warning follows ASIC's deep dive into finfluencers, the majority of which do not hold an AFS licence and meet educational requirements. It is also currently engaging with social media platforms and their moderators. ASIC is ...

More advisers switching practices

KARREN VERGARA  |  TUESDAY, 21 SEP 2021
Nearly 1700 financial advisers jumped from one practice to another in the year to August, Rainmaker's adviser movements pipeline shows. The newly launched database found 1689 advisers moved from one employer to another, while the month to August saw ...

ASIC bans adviser, cancels AFSL

ANNABELLE DICKSON  |  THURSDAY, 22 JUL 2021
The corporate regulator has banned a Gold Coast-based adviser for five years and cancelled the group's AFS licence over misconduct. Adam Bevan was an authorised representative and sole director of Trade Wind Financial Services. ASIC banned Bevan after ...

ASIC looks to tighten crypto ETP oversight

JAMIE WILLIAMSON  |  WEDNESDAY, 30 JUN 2021
... LICs," ASIC said. The regulator is also proposing the creation of a new asset kind when it comes to applying for an AFS licence to offer such products, saying existing asset kinds would not suffice. ASIC has also said it will not be issuing any further ...

ASIC removes Societe Generale restrictions

ANNABELLE DICKSON  |  FRIDAY, 25 JUN 2021
The corporate regulator has removed AFS licence conditions imposed on the French bank after it breached client money obligations. As per the licence conditions, Societe Generale appointed an independent expert to assess and test the adequacy and effectiveness ...

ASIC cancels AFSLs

ANNABELLE DICKSON  |  TUESDAY, 25 MAY 2021
... cover. Direct My Wealth held an AFSL since 13 January 2016 and an ACL since 14 January 2016 whereas Starkey held its AFS licence since 8 June 2006. Both can apply to the Administrative Appeals Tribunal for a review of the decisions.

ASIC drags CommSec to court

ELIZABETH MCARTHUR  |  MONDAY, 1 MAR 2021
ASIC has commenced civil proceedings against CommSec and AUSIEX in the Federal Court. CommSec overcharged brokerage fees to customers on 120,933 occasions totalling $4,352,194 between August 2010 and February 2020, ASIC alleges and CommSec has admitted. ...

ASIC cancels stockbroker AFSL

ANNABELLE DICKSON  |  WEDNESDAY, 13 JAN 2021
... professional indemnity insurance cover and terminating existing arrangements with clients. Last year ASIC suspended Halifax's AFS licence until 10 January 2020 following the appointment of Ferrier Hodgson as voluntary administrators on 23 November 2018. ...

Exemptions to AFSLs explained by ASIC

ELIZA BAVIN  |  THURSDAY, 26 NOV 2020
... authorised under section 916A of the Corporations Act to provide the financial service by a principal that has an AFS licence covering that particular financial service." ASIC said to determine whether a person can rely on this exemption, the test is ...

Societe Generale fined over client breaches

ANNABELLE DICKSON  |  WEDNESDAY, 21 OCT 2020
... client money obligation breaches in Sydney's local court and has been ordered to pay $30,000 in addition to further AFS licence conditions imposed by ASIC. The bank breached s993B(1) of the Corporations Act (the Act) on two separate occasions by receiving ...