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Showing 41 - 50 of 334 results for "Cancelled"

Property fund management firm loses AFSL

MATTHEW WAI  |  TUESDAY, 15 OCT 2024
... expelled from the scheme or requests to withdraw membership, AFCA must notify ASIC, ASIC said. Simultaneously, ASIC has cancelled the ASFL of Colleen Hennequin, an accounting firm, on July 10, as well as credit licences of the following members: George ...

ASIC cancels fewer AFSLs in FY24

KARREN VERGARA  |  FRIDAY, 11 OCT 2024
ASIC cancelled or suspended 239 AFS licences (AFSLs) in the 2024 financial year, which is 9% lower than the prior period. Report 797 Licensing and professional registration activities, which tracks licensing and professional registration activities ...

Global Capital Property to be wound up

KARREN VERGARA  |  TUESDAY, 8 OCT 2024
... investments. As at April, the fund's net asset value was $97.5 million, according to UGC's website. ASIC also cancelled UGC's AFSL after finding the firm's authorised representatives contacted prospective clients and urged them to establish ...

Pengana pauses share buyback

ANDREW MCKEAN  |  WEDNESDAY, 2 OCT 2024
... million for 11 million shares at $1.21 per share, will likely be forfeited, the associated treasury shares would be cancelled, reducing the number of outstanding shares from 110 million to 99 million. This reduction would boost the value of the remaining ...

ASIC crackdown: Action taken against 13 SMSF auditors

ELIZA BAVIN  |  WEDNESDAY, 2 OCT 2024
... varied upon their request for reconsideration. The regulator also imposed additional conditions on four SMSF auditors and cancelled the registration of one. All SMSF auditors were referred to ASIC by the Australian Taxation Office (ATO). Between 1 July ...

ASIC cancels AFSL of foreign exchange contracts issuer

ELIZA BAVIN  |  THURSDAY, 5 SEP 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFLS) of contracts for difference (CFDs) and foreign exchange contracts issuer, FXOpen AU. ASIC said the decision to cancel the licence ...

Former BBY employee sentenced for 'dishonest conduct'

MATTHEW WAI  |  WEDNESDAY, 21 AUG 2024
... client money accounts and contributed to the client money shortfalls on BBY's liquidation on 22 June 2015. ASIC has cancelled BBY's AFS licence in June 2021. Yuen is automatically disqualified from managing corporations for five years from conviction ...

ASIC scraps Libertas' AFSL for unpaid compensation

KARREN VERGARA  |  TUESDAY, 20 AUG 2024
... recourse from the advisers, and the disclosure of such amounts is likely to prejudice those proceedings". ASIC officially cancelled Libertas' AFSL on August 14. "Where the CSLR pays compensation to an eligible consumer in relation to an AFCA determination ...

ASIC bans 'incompetent' financial services directors

ANDREW MCKEAN  |  FRIDAY, 19 JUL 2024
... running a financial services business as directors or as responsible managers for three and five years, respectively. ASIC cancelled XTrade's Australian Financial Service (AFS) licence in June after discovering that it failed to comply with financial ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
ASIC has cancelled the licence of Guildfords Funds Management and banned its managing director Robert Payne for their involvement in the collapse of Magnolia Capital Group. ASIC found "significant and systemic failures of oversight and compliance" upon ...