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Showing 61 - 70 of 100+ results for "AFSL"

ASIC prepares industry for claims handling law

KARREN VERGARA  |  FRIDAY, 27 NOV 2020
... introduced in parliament on November 12, will force those providing claims handling and settling services to be covered by an AFSL. It also means that insurance-claims handling will be under the umbrella of "financial service", meaning insurers must ...

Exemptions to AFSLs explained by ASIC

ELIZA BAVIN  |  THURSDAY, 26 NOV 2020
... regulator stressed that a trustee which issues, varies or disposes of interests in an unregistered scheme must generally hold an AFSL authorising it to deal in a financial product by issuing, varying or disposing of interests in a managed investment ...

Financial adviser reference checks under scrutiny

ELIZABETH MCARTHUR  |  THURSDAY, 19 NOV 2020
ASIC has released a consultation paper seeking feedback on reference checking protocols for financial advisers and mortgage brokers. Requiring financial advisers to have reference checks was one of the recommendations to come out of the Royal Commission. ...

RC recommendations closer to legislation

KARREN VERGARA  |  FRIDAY, 13 NOV 2020
... the new law, insurance-claims handling will now be under the umbrella of "financial service", meaning insurers must hold an AFSL to be involved in the claims process. They must also handle claims efficiently, honestly and fairly, and must have an internal ...

AAT affirms SMSF adviser ban

JAMIE WILLIAMSON  |  WEDNESDAY, 11 NOV 2020
... responsible manager, director and owner of the company, and was also owner of Bateau Asset Management. ASIC suspended Ballast's AFSL in October until December 18 as it had ceased to carry on a financial services business. In 2015 another former authorised ...

The platforms with the most advisers

KANIKA SOOD  |  TUESDAY, 3 NOV 2020
... is used by 777 AFSLs. Next up was Asgard with 5401 advisers, 6% market share and 739 licensees. The results are based on AFSL-level data collected by Rainmaker. It is estimated the average adviser uses about five different platforms. Five platforms had ...

Fastest-growing AFSLs in the country

KANIKA SOOD  |  FRIDAY, 30 OCT 2020
... months to September end. And which AFSLs have the biggest market share. Overall, there were 19,357 advisers attached to an AFSL at September end, down 2597 from a year ago. In the 12 months, 2832 new names were registered while nearly twice the amount ...

Federal Court freezes investment scam, winds up SMSF operator

ANNABELLE DICKSON  |  TUESDAY, 27 OCT 2020
... the Corporations Act by operating a financial services business without holding an Australian financial services licence (AFSL). ASIC alleges Beresford established Maxwell Financial Services in 2019 and offered investors financial products with high ...

Derivatives issuer cops $75m penalty

ELIZA BAVIN  |  MONDAY, 19 OCT 2020
... AGM be higher than that for OTM and Ozifin, reflecting the failure by AGM to discharge its obligations as the holder of an AFSL," Justice Beach said. "Such a penalty will stand as a deterrent to other AFSL holders, particularly those who are participants ...

A new model is coming: Licensees

ELIZABETH MCARTHUR  |  THURSDAY, 15 OCT 2020
At the Association of Financial Advisers' Conference, a panel of licensee executives agreed that the advice industry will be pushed towards a new model in the coming years. The panel, facilitated by CoreData founder and principal Andrew Inwood, saw ...