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Showing 61 - 70 of 111 results for "AFS licensees"

ASIC nudges robo-adviser to shutter

ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
... human advisers - the advice must be appropriate to the client and comply with the best interests duty. "ASIC expects AFS licensees and financial advisers using or recommending digital advice tools to ensure that they adequately monitor and test the advice ...

ASIC grants compliance scheme relief

HARRISON WORLEY  |  WEDNESDAY, 16 OCT 2019
ASIC will grant AFS licensees with relief from the obligation to ensure their financial advisers are covered by a compliance scheme. As part of the government's decision late last week to accelerate the establishment of a single disciplinary body for ...

Queensland-based AFSL suspended

ELIZABETH MCARTHUR  |  TUESDAY, 10 SEP 2019
... time for the firm to lodge financial reports and address ASIC's concerns. ASIC said in a statement: "ASIC expects AFS licensees to do all things necessary to meet their obligations under financial services law, comply with their licence conditions and ...

Beware adviser conflicts of interest: Lonsec

ELIZABETH MCARTHUR  |  WEDNESDAY, 28 AUG 2019
... advisers to be able to prove how an MDA is in the best interest of their clients. "ASIC also expects advisers and AFS licensees to monitor the performance and ongoing appropriateness of the MDA service for their clients," the spokesperson said.

AMP MDA constraints frustrate advisers

ELIZABETH MCARTHUR  |  MONDAY, 5 AUG 2019
... and the imposition of additional licence conditions is part of ongoing efforts to make our expectations clear to AFS licensees." She added that new licence applicants and licensees seeking variations can expect ASIC to tailor licence conditions more ...

Sam Henderson cops ASIC ban

KANIKA SOOD, JAMIE WILLIAMSON  |  WEDNESDAY, 24 JUL 2019
... how their clients' interests are being prioritised, especially if in-house products have higher ongoing fees. AFS licensees are responsible for ensuring that they disclose any associations that could potentially influence the financial advice they ...

ASIC catches illegal dual licensees

ELIZABETH MCARTHUR  |  MONDAY, 13 MAY 2019
... licensees have had their authorisation revoked after ASIC found they were also authorised representatives of other AFS licensees. ASIC has revoked authorisation of these dual licence holders after an investigation into 65 AFS licence holders found that ...

ASIC outlines enforcement efforts

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 APR 2019
... 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 inappropriate ...

AMP overhauls wealth leadership

ELIZABETH MCARTHUR, JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... and the imposition of additional licence conditions is part of ongoing efforts to make our expectations clear to AFS licensees," ASIC commissioner Danielle Press said. "ASIC will impose licence conditions based on what an applicant is seeking authorisation ...

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
Extra conditions have been placed on the AFSL of one of Australia's biggest financial advice licensees following an investigation sparked by phenomenal growth in adviser numbers in just six months. SMSF Advisers Network has had additional licence ...