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Showing 41 - 50 of 256 results for "Financial Services Law"

Adviser permanently banned for faking qualifications

JAMIE WILLIAMSON  |  TUESDAY, 9 JUL 2024
... adequately trained and competent, to provide financial services. It also believes he is likely to contravene financial services law in the future. "ASIC found that Mr Vee engaged in conduct that was dishonest and demonstrated the opposite of integrity ...

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 ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of retail over-the-counter (OTC) derivatives issuer XTrade. XTrade offered clients opportunities to trade in contracts for difference ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
... important protections. Simply because a product hinges on a crypto-asset, does not mean it falls outside financial services law." Block Earner is the trading name of Web3 Ventures. It was founded in 2021 by Charlie Karaboga and Jordan Momtazi and backed ...

Former Life Plan FP adviser cops ban

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
ASIC slapped a three-year ban on a former Life Plan FP financial adviser for failing to act in the best interests of clients and not being able to maintain "high standards". Gawad Nabi, who served as an authorised representative of Hobart-based Life ...

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations. Everest Asset Management, which was licensed to service wholesale clients, will no longer be operational. ASIC said it revoked the AFSL ...

Former NSW adviser loses ban appeal

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... they are not a fit and proper person to provide financial services or that they are likely to contravene a financial services law."

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian Financial Services Licence (AFSL) of JB Markets effective from 12 April 2024. ASIC said JB Markets failed to comply with the financial requirements of its AFSL ...

ASIC bans director who promised 150% returns

ELIZA BAVIN  |  THURSDAY, 21 MAR 2024
... investors. ASIC said it was satisfied there was reason to believe that Creigh was likely to contravene a financial services law due to his "fundamental lack of competence as well as his lack of fitness and propriety". Creigh has the right to appeal to ...