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Showing 51 - 60 of 111 results for "AFS Licensees"

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... adviser, a 38% increase on the previous year. The corporate watchdog is looking to recoup $40.17 million from 3051 AFS licensees with 22,652 advisers. While ASIC states that the indicative levies for 2019-20 are an estimate, the FPA said a 38% cost increase ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
... to maintain adequate competence and capacity to provide the financial services covered by its AFSF. "ASIC expects AFS licensees to do all things necessary to meet their obligations under financial services laws, comply with their licence conditions ...

Foreign fund managers granted licensing relief

HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
... regime. Overseas firms holding a new foreign entities license will be exempt from some obligations which apply to AFS licensees, including financial requirements, with ASIC satisfied similar regulatory supervision and outcomes will be achieved by equivalent ...

Half of all AFSL applications approved

ELIZABETH MCARTHUR  |  MONDAY, 16 DEC 2019
... applications were approved and 31 were withdrawn. "For the first year since inception, the total number of approved AFS licensees has fallen (from 6170 in June 2018 to 6159 in June 2019)," ASIC said. "Given the generally consistent number of new AFS ...

ASIC suspends Melbourne-based AFSL

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... obligations, the regulator will consider cancelling or further suspending the licence," ASIC said. "ASIC expects AFS licensees to do all things necessary to meet their obligations under financial services laws, comply with their licence conditions, and ...

New tool launches to help FASEA code compliance

ELIZABETH MCARTHUR  |  MONDAY, 2 DEC 2019
... MyNextAdvice, which has launched a solution to help licensees monitor adviser compliance. "ASIC has mandated that AFS Licensees are responsible for monitoring adviser compliance with the code until the Government establishes a central code monitoring ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...

FASEA chief to provide update

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 NOV 2019
... breaches of the code. "Financial advisers will still be required to comply with the code from 1 January 2020 and AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code," ASIC said. This ...

ASIC outlines Code of Ethics expectations

ELIZA BAVIN  |  TUESDAY, 26 NOV 2019
... The regulator stressed financial advisers will still be required to comply with the code from 1 January 2020 and AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code. ASIC said that ...

Registration deadline extended: ASIC

ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
... bodies would soon be displaced by the new body. Despite the lack of a monitoring body for the code, ASIC said: "AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code from 1 January ...