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Showing 41 - 50 of 111 results for "AFS licensees"

ASIC launches remediation review

KARREN VERGARA  |  WEDNESDAY, 17 NOV 2021
... compensate consumers sooner. The corporate watchdog launched a new consultation with the advice industry to ensure that AFS licensees act efficiently, honestly, and fairly when remediating consumers. ASIC deputy chair Karen Chester said one of the most ...

Government advances adviser levy drop

KARREN VERGARA  |  THURSDAY, 11 NOV 2021
... drop on the variable amount of $3138 based on earlier estimates. The new levy of $25.8 million is split among 2934 AFS licensees with 18,750 advisers. For advisers who provide retail advice for products that are not relevant financial products, their ...

Asendium partners with licensee support firm

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
Asendium has joined forces with a licensee support firm that has more than 70 AFS Licensees nationwide. My Dealer Services is using the financial advice technology firm's software to develop compliant advice. Advisers will be able to generate in-house ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... greater confidence they are doing the right thing by consumers, and ultimately their firm and shareholders," she said. AFS licensees must report breaches that they discover after 1 October 2021, even if the breach occurred before that date. However ...

Adviser slapped with four-year ban

KARREN VERGARA  |  MONDAY, 28 JUN 2021
... clients". This is despite the fact that Jennings has been working as an adviser since 2009, representing several AFS licensees. The misconduct occurred during the time she was an authorised representative of Meritum (February 2012 to February 2017) and ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
... situations that must be reported to ASIC. The reforms, which are expected to commence on 1 October 2021, will impact AFS licensees and are to also be extended to credit licensees. ASIC will require licensees to lodge breach reports in a prescribed form ...

ASIC imposes licence conditions on Poynter Hargraves

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
... conflicts of interest and adequate audit processes to monitor and supervise their representatives," the regulator said. "AFS licensees should conduct sufficient periodic audits of all their advisers and use suitably qualified staff to conduct these a ...

Reference checks should cover all advice: FPA

KARREN VERGARA  |  MONDAY, 1 FEB 2021
... just financial advisers. The reforms emanate from the financial services Royal Commission, which recommends that AFS licensees should be required to comply with reference checking and information-sharing regulations like what the Australian Banking Association ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... Complaints Authority (AFCA), and had failed to lodge its annual financial and audit reports since 2017. "ASIC expects AFS licensees to do all things necessary to meet their obligations under financial services laws, comply with their licence conditions ...

ASIC provides relief to Victorian advisers

ALLY SELBY  |  TUESDAY, 22 SEP 2020
... statements and renewal notice obligations for financial advice businesses in Victoria. The no-action applies to AFS licensees and representatives where their business is solely, or substantially, located in Victoria. Businesses that have otherwise been ...