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Showing 51 - 60 of 142 results for "AFS licence"

Pershing convicted for client breaches

ANNABELLE DICKSON  |  THURSDAY, 6 AUG 2020
... during sentencing. The Corporations Regulations mandates that client money must be paid into a client money account and AFS licence holders can only make payments out of a client money account. Magistrate Atkinson said it was Pershing's responsibility ...

Forex Capital to face Federal Court

ALLY SELBY  |  FRIDAY, 17 JUL 2020
... watchdog said. "This includes failing to do all things necessary to ensure that the financial services covered by the AFS licence were provided efficiently, honestly and fairly."

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
... and to conduct their business lawfully," ASIC said. "Under the Corporations Act 2001, ASIC may suspend or cancel an AFS licence if the licensee fails to meet their obligations." Meanwhile, Australian Golden Securities licence was previously suspended ...

ASIC takes action on two AFSLs

ELIZA BAVIN  |  FRIDAY, 29 MAY 2020
... the Corporations Act, an AFS licensee must comply with the conditions of its licence. ASIC may suspend or cancel an AFS licence if a licensee does not comply with its licence conditions," the regulator said. Squareknot has the right to appeal to the ...

ASIC revokes AFSL suspension, cancels another

ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
... cancelled the AFSL because Tailormade was in liquidation. "Under the Corporations Act 2001, ASIC may suspend or cancel an AFS licence if the licensee is under administration and is being wound up," the regulator said. "As part of the cancellation, Tailormade ...

AFSL pleads guilty to mishandling client money

KANIKA SOOD  |  THURSDAY, 7 MAY 2020
... be provided, or in connection with a financial product. Client money must be paid into a client money account and AFS licence holders can only make payments out of a client money account as specified by the Corporations Regulations," ASIC said. In addition ...

Dealer group AFSL in limbo

ALLY SELBY  |  THURSDAY, 23 APR 2020
... Appeals Tribunal reviews ASIC's decision. It comes after the corporate watchdog suspended the advisory firm's AFS licence on February 12 on the grounds that it had failed to comply with its licensee obligations. ASIC alleged MyPlanner Professional ...

ASIC cancels slew of AFSLs

JAMIE WILLIAMSON  |  FRIDAY, 3 APR 2020
... Securities had its licence cancelled on March 5 after it failed to meet the "base level financial requirements" of AFS licence holders for 2017 and 2018. It also failed to lodge annual and auditor reports for 2018 and 2019. ASIC determined the licensee ...

AFSL suspended by ASIC

ALLY SELBY  |  MONDAY, 23 MAR 2020
A Queensland-based financial services provider has had its AFS licence suspended, impacting close to 20 financial advisers. ASIC has suspended the AFS licence of Longhou Capital Markets for three months, expiring June 12 this year. It follows the appointment ...

Investment manager criminally charged

ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2020
... financial institutions, hedge funds, asset managers, and various corporate clients. The Corporations Act said that an AFS licence holder must ensure client money is paid into a client money account. ASIC said an AFS licence holder is only permitted to ...