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Showing 621 - 630 of 1277 results for "AFS"

AFCA hears legacy complaints

KANIKA SOOD  |  THURSDAY, 21 FEB 2019
The Australian Financial Complaints Authority will start taking legacy complaints starting July 1 for a limited amount of time. The Federal Government recently extended AFCA's remit after the Financial Services Royal Commission. This means the one-stop ...

Futuro ends AMP alignment

JAMIE WILLIAMSON  |  THURSDAY, 21 FEB 2019
Futuro Financial Services has ended its partnership with AMP after seven years, becoming 100% privately-owned again. AMP acquired a 10% stake in Futuro in 2012 with the intention of taking full ownership by 2017. However, both parties agreed to end ...

Accountant banned for bad SMSF advice

HARRISON WORLEY  |  TUESDAY, 19 FEB 2019
... SMSFs posed major hurdles for individuals and were not for everybody. "ASIC will continue to take action when advisers or AFS licensees don't comply with the law," she said. "Consumers need to know that managing your own super is a major commitment that ...

ASIC appeals Westpac Federal Court decision

JAMIE WILLIAMSON  |  MONDAY, 18 FEB 2019
The corporate regulator is appealing last year's landmark Federal Court decision, determined to prove two Westpac subsidiaries provided personal financial advice despite not being licensed to do so. In December 2018, Justice Jacqueline Gleeson determined ...

Adviser asked to cover regulator costs

KANIKA SOOD  |  MONDAY, 18 FEB 2019
The Queensland Supreme Court has issued orders against a man who ran an unlicensed advice business and collected kickbacks on investment properties he recommended to his SMSF clients. Richard Gardner and Advanced Wealth Financial Services Pty Ltd (where ...

Westpac mulls sale of in-house planners

JAMIE WILLIAMSON  |  WEDNESDAY, 13 FEB 2019
Westpac has confirmed it is exploring options for its in-house financial planning division, following questions from Financial Standard about a potential sale of 50% of Westpac Financial Planning. Financial Standard understands Westpac is in talks with ...

Financial Standard launches FS Aspire CPD

DARREN SNYDER  |  MONDAY, 11 FEB 2019
Financial Standard is drawing on its deep catalogue of financial advice, superannuation and wealth management content to roll out a new proprietary Continuing Professional Development program for financial services professionals. FS Aspire CPD offers ...

ASIC gears up for Brexit

KANIKA SOOD  |  MONDAY, 11 FEB 2019
ASIC is liaising with the UK corporate regulator, Bank of England and local stakeholders to prepare for Brexit's impact, it said in a statement. ASIC said it will enter into new memorandums of understanding (MoU) with the UK's Financial Conduct Authority ...

Hayne report raises professionalism stakes

JAMIE WILLIAMSON  |  MONDAY, 11 FEB 2019
Financial advisers could face the same rigid license registration requirements as doctors and lawyers if the Royal Commission's recommendations on compliance and further education in the industry become law. Commissioner Kenneth Hayne is calling ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
The business model under fire for much of the Royal Commission has escaped punishment in Kenneth Hayne's final report. In handing over his 76 recommendations to improve the banking and financial services industry in Australia, Hayne avoided calling ...