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Showing 51 - 60 of 115 results for "AFS licensees"

ASIC imposes licence conditions on Poynter Hargraves

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
... conflicts of interest and adequate audit processes to monitor and supervise their representatives," the regulator said. "AFS licensees should conduct sufficient periodic audits of all their advisers and use suitably qualified staff to conduct these a ...

Reference checks should cover all advice: FPA

KARREN VERGARA  |  MONDAY, 1 FEB 2021
... just financial advisers. The reforms emanate from the financial services Royal Commission, which recommends that AFS licensees should be required to comply with reference checking and information-sharing regulations like what the Australian Banking Association ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
... Complaints Authority (AFCA), and had failed to lodge its annual financial and audit reports since 2017. "ASIC expects AFS licensees to do all things necessary to meet their obligations under financial services laws, comply with their licence conditions ...

ASIC provides relief to Victorian advisers

ALLY SELBY  |  TUESDAY, 22 SEP 2020
... statements and renewal notice obligations for financial advice businesses in Victoria. The no-action applies to AFS licensees and representatives where their business is solely, or substantially, located in Victoria. Businesses that have otherwise been ...

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 ...