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Showing 41 - 50 of 100+ results for "AFSL"

Trading platform slapped with licence conditions

KARREN VERGARA  |  MONDAY, 15 MAR 2021
... obligations and must appoint an independent expert to review these areas of concerns. Last January, ASIC suspended AxiCorp's AFSL for four months after finding that it failed to comply with certain financial services laws. Among those breaches include ...

ASIC takes Statewide Super to court

JAMIE WILLIAMSON  |  THURSDAY, 4 MAR 2021
... the premiums being charged again, the regulator alleges. In doing so, ASIC says Statewide breached its obligations as an AFSL holder. It is also accused of breaching its obligation to report such breaches to ASIC within 10 days. According to documents ...

Remains of Melissa Caddick found

ELIZABETH MCARTHUR  |  FRIDAY, 26 FEB 2021
... was posing as a financial adviser, without being registered or qualified, and was providing financial services without an AFSL. A spokesperson for ASIC told Financial Standard that despite today's announcement that remains have been identified, its investigation ...

ASIC zeroes in on bad SMSF advice, conduct

KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... seminars. The case of Melissa Caddick, who is currently at large, is an example. Caddick's firm Maliver operated without an AFSL and used another company's licence without authorisation. Another case involves John Louis Anthony Bigatton, who ...

ASIC imposes licence conditions on Poynter Hargraves

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
ASIC has hit AFSL Poynter Hargraves Financial Consultants with additional licence conditions, requiring it to remove its sole responsible manager. "This follows a targeted surveillance by ASIC that found Poynter Hargraves had poor risk controls around ...

ASIC suspends RE licence

KARREN VERGARA  |  MONDAY, 8 FEB 2021
The corporate regulator has suspended the AFSL of a responsible entity that oversees a property and mortgage fund for breaching several compliance and reporting obligations. The licence of Queensland-based financial services provider Investors Exchange ...

High Court dismisses Westpac appeal

JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
The High Court has affirmed the Federal Court's 2019 decision that two Westpac subsidiaries provided unlicensed personal financial advice. In a decision handed down today, the High Court of Australia dismissed Westpac's appeal, determining the ...

Hume advocates for affordable advice

KARREN VERGARA  |  WEDNESDAY, 20 JAN 2021
The federal government is driving hard the importance of accessing quality, affordable financial advice. Minister for Superannuation, Financial Services and the Digital Economy Jane Hume has flagged the opportunities the Morrison government will take ...

ASIC cancels stockbroker AFSL

ANNABELLE DICKSON  |  WEDNESDAY, 13 JAN 2021
The corporate regulator has cancelled the Australian financial services licence of Halifax Investment Services nearly two years after it was placed into administration. The cancellation took effect from 8 January 2021 and allows the licence to operate ...

AMP adviser numbers shrivel

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... The number of financial advisers licensed by AMP dropped dramatically in 2020, with the institution no longer the largest AFSL in the country by number of advisers. The largest AFSL is now the SMSF Adviser Network which had 839 advisers as at 31 December ...