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Showing 591 - 600 of 940 results for "AFSL"

ASIC slams SMSF advice, flags further education reform

JAMIE WILLIAMSON  |  FRIDAY, 29 JUN 2018
... related obligations. Of the 102 licensees, 97 were found to have provided non-compliant advice. ASIC identified several limited AFSL holders and providers operating under a limited authorisation that had also provided deficient advice. As a result ASIC ...

CIPR framework timely but questions remain

KARREN VERGARA  |  THURSDAY, 28 JUN 2018
... complex the choices offered by the fund, the guidance and tools should be more complex, more in number, or offered under an AFSL?" KPMG asked. KPMG recommended that expectations regarding "proportional" guidance is clearly articulated, especially if ...

Dover exit renews self-licensing calls

ALEX BURKE  |  MONDAY, 25 JUN 2018
... owners who have staff, families and financial commitments to meet." The problem, of course, is that applying for an individual AFSL is costly - more than $5000 to advise on complex products for retail clients - and time-consuming. And as Alcock noted ...

Sequoia sells direct equities business

ALEX BURKE  |  FRIDAY, 22 JUN 2018
Sequoia Financial Group noted the sale of its direct equities business in a market update. Sequoia said it was selling Sequoia Direct as part of a "simplication of its overall operation by reducing the number of AFSLs operated within the Sequoia group." ...

Multi-disciplinary industry trend continues: CBA

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUN 2018
... restrictions on 1 July 2016 meant accountants could no longer provide SMSF-related services without applying for a limited AFSL or becoming an authorised representative of an existing AFSL. Interestingly, CBA's 2017 survey showed 42% of firms identified ...

IOOF boosts adviser compliance support

KARREN VERGARA  |  TUESDAY, 19 JUN 2018
... IOOF's financial advice licensee support service has partnered with Integrity Compliance to help financial advisers manage AFSL requirements. IOOF Alliances aims to help its network of self-licensed advice businesses manage governance, risk and compliance ...

ASIC issues warning over Dover advisers

JAMIE WILLIAMSON  |  WEDNESDAY, 13 JUN 2018
... licensees on ensuring they have robust recruitment and monitoring practices, particularly when appointing advisers from an AFSL with a poor compliance history. In doing so, the regulator referenced previous warnings issued following action taken against ...

Industry responds to Dover shutdown

JAMIE WILLIAMSON  |  TUESDAY, 12 JUN 2018
... new advice to clients and giving advisers less than 30 days to make transitional arrangements before the dealer group's AFSL is cancelled by ASIC on 6 July 2018. According to Rainmaker data, Dover is the second largest non-institutionally aligned ...

Former adviser faces fraud charges

HARRISON WORLEY  |  MONDAY, 28 MAY 2018
... currently adjourned. ASIC's latest activity against the former adviser alleges that as director of Growth Plus (which held an AFSL and operated ADSIF) Jayaweera represented ADSIF as a diversified fund when actually he had diverted funds into an abalone ...

Retirement income paper open for consultation

KANIKA SOOD  |  FRIDAY, 18 MAY 2018
... "financial advice". If trustees are providing financial advice, they will need to hold an Australian Financial Services Licence (AFSL). A 100% allocation to an account-based pension (ABP) would not meet the definition of a Comprehensive Income Product ...