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Showing 601 - 610 of 1277 results for "AFS"

Former Dover, Securitor adviser banned

ELIZABETH MCARTHUR  |  THURSDAY, 18 APR 2019
An adviser formerly licenced by Dover Financial Advisers has been banned for failing to provide advice in the best interest of clients. Peter Anthony Chigwidden has been banned for five years following an ASIC investigation. Chigwidden licensed by Dover ...

Superannuation bills on hold

KARREN VERGARA  |  MONDAY, 15 APR 2019
Four key pieces of legislation, including the protection of young superannuation members and low-balance accounts from default insurance premiums, have been put on ice. Treasury Laws Amendment (Putting Members' Interests First) Bill 2019, a highly anticipated ...

CBA, ASIC move to resolve AFSL conditions

KANIKA SOOD  |  WEDNESDAY, 10 APR 2019
ASIC has released the final compliance report on the conditions it placed on Commonwealth Financial Planning and Financial Wisdom in 2014. Commonwealth Bank has paid a further $2.3 million to 232 clients advised by five of its advisers, according to ...

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... $33 million to be paid out of fund assets without member approval." In its update, ASIC said in 2019 misconduct involving AFS licensees would be looked at closely. It said: "We are also focusing on responsible lending breaches, as well as the sale of ...

Platform provider wins mandate

KANIKA SOOD  |  WEDNESDAY, 10 APR 2019
An ASX-listed platform provider has won a mandate from a wealth firm for a new managed discretionary account service. Managed Accounts Holdings will work with First Point Wealth Management to set up an MDA service. The move comes as First Point Wealth ...

ASIC approves AMP for MDAs

HARRISON WORLEY  |  TUESDAY, 9 APR 2019
... platforms. That transitionary period expired in 2018 and as such, AMP's advice business was required to seek a variation of its AFS license to comply with ASIC's updated position. The corporate regulator approved AMPFP's request, but also ...

Financial advice exit a boon for the industry: Poll

KARREN VERGARA  |  MONDAY, 8 APR 2019
The big four banks exiting financial advice received a resounding welcome from the industry, according to a new survey. The majority of respondents (62%) polled in Financial Standard's sister publication FS Advice agreed the move will have positive ...

AMP overhauls wealth leadership

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... ASIC imposed additional conditions on the AMP Financial Planning's AFSL. ASIC granted AMPFP's application to vary its AFS licence to provide managed discretionary account (MDA) services after which time ASIC conducted surveillance of AMPFP's MDA ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... ensure those representatives comply with the law when providing financial product advice to consumers. "It is essential that AFS licensees' resources remain adequate, especially during periods of strong growth, to ensure compliance with their obligations. ...

Powerwrap launches new adviser service

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 MAR 2019
... investments and products as well as administration and reporting, a full service DMA/intermediary desk to support trades, AFS licensing and back office business support. Davidson said: "It is completely up to the advisers to choose the suite of services ...