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Showing 591 - 600 of 1277 results for "AFS"

ASIC bans adviser over super theft

ELIZABETH MCARTHUR  |  THURSDAY, 23 MAY 2019
... he directed an employee to construct a back-dated Statement of Advice which was presented to his licensee, the now defunct AFS Group, in order to attempt to defend a complaint that was being investigated. It was reported some of McSweeny's clients ...

YBR overhauls wealth arm

KARREN VERGARA  |  FRIDAY, 17 MAY 2019
Yellow Brick Road is restructuring its wealth business that will result in job cuts under the supervision of chair Mark Bouris. Its chief executive will also step down. YBR's board announced overnight it will commence to dispose, outsource or restructure ...

Multi-asset SMA launches

KARREN VERGARA  |  TUESDAY, 14 MAY 2019
A new managed accounts provider has launched a private label, multi-asset separately managed account. Sydney-based investment research and managed accounts firm, Resonant Asset Management, has made the SMA available to financial advisers and dealer ...

ASIC catches illegal dual licensees

ELIZABETH MCARTHUR  |  MONDAY, 13 MAY 2019
Fifty-eight Australian financial services (AFS) licensees have had their authorisation revoked after ASIC found they were also authorised representatives of other AFS licensees. ASIC has revoked authorisation of these dual licence holders after an investigation ...

Industry fund fined over independent advice claims

KARREN VERGARA  |  THURSDAY, 9 MAY 2019
A major industry superannuation fund has been forced to remove "independent" from its financial advice messaging and consequently slapped with a financial penalty issued by the corporate regulator. ASIC alleged Hostplus provided misleading claims to ...

Financial advice drags BTFG results

KARREN VERGARA  |  MONDAY, 6 MAY 2019
BT Financial Group has farewelled a number of its advisers over the last six months as the group continues to offload its loss-making financial advice arm, its latest interim results show. BTFG has reduced its financial planning workforce by about 28% ...

ASIC suspends advice group AFSL

ELIZABETH MCARTHUR  |  THURSDAY, 2 MAY 2019
ASIC has suspended the Australian financial services licence of a Sydney-based financial advice group. Australasia Wealth Services and Management failed to obtain membership of the Australian Financial Complaints Authority (AFCA), therefore breaching ...

Super startup to relaunch

HARRISON WORLEY  |  TUESDAY, 30 APR 2019
In its third iteration, challenger superannuation offering Human Super will relaunch under a new name, almost two years after its initial attempt to enter the market. Human Super - a superannuation product designed specifically for women - will relaunch ...

ASIC bans AFSL chief executives

ELIZABETH MCARTHUR  |  MONDAY, 29 APR 2019
ASIC banned two joint chief executives from providing financial services for six years following an investigation. Jeffrey Worboys and Matthew Barnett were joint chief executives of Australian Mutual Holdings - an AFSL holder and responsible entity ...

ASIC appoints receiver for derivatives issuer

ELIZABETH MCARTHUR  |  FRIDAY, 26 APR 2019
ASIC has cancelled the AFSL of an OTC derivatives issuer and helped appoint a receiver to the firm and its related companies. ASIC has successfully applied to the Federal Court to appoint receivers to Berndale Capital Securities, Berndale Capital Securities ...