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Showing 71 - 80 of 162 results for "AFS Licensee"

Adviser slapped with four-year ban

KARREN VERGARA  |  MONDAY, 28 JUN 2021
Another former Meritum Financial Group and InterPrac Financial Planning adviser has copped a ban from the corporate regulator. From 1 April 2021, ASIC banned Hobart-based Hannah Jennings from providing financial services for four years for failing to ...

ASIC opens breach reporting consultation

ANNABELLE DICKSON  |  THURSDAY, 22 APR 2021
The corporate regulator is seeking stakeholder feedback on updates to draft guidance on breach reporting reforms that aim to reduce industry misconduct. ASIC's draft guidance is based on reforms made to the breach reporting regime under the F inancial ...

ASIC imposes licence conditions on Poynter Hargraves

ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
ASIC has hit AFSL Poynter Hargraves Financial Consultants with additional licence conditions, requiring it to remove its sole responsible manager. "This follows a targeted surveillance by ASIC that found Poynter Hargraves had poor risk controls around ...

Reference checks should cover all advice: FPA

KARREN VERGARA  |  MONDAY, 1 FEB 2021
Reference checks should be extended to general advice and to anyone that has the ability to influence the financial advice process, according to the Financial Planning Association of Australia. In its submission to ASIC for Consultation Paper 333 Implementing ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 30 NOV 2020
ASIC has cancelled the AFSLs of two financial services providers, one from Victoria and the other from Western Australia. Victorian financial services provider Jels Financial Group has had its license cancelled by the regulator for failing to demonstrate ...

Exemptions to AFSLs explained by ASIC

ELIZA BAVIN  |  THURSDAY, 26 NOV 2020
... principal. The exemption will only apply to those acting as a representative. "As an authorised representative of an AFS licensee, the trustee of an unregistered scheme can only rely on the authorised representative exemption if it provides a financial ...

ASIC provides relief to Victorian advisers

ALLY SELBY  |  TUESDAY, 22 SEP 2020
... within the prescribed timeframes (s962F of the Corporations Act)," the watchdog said. "Where an OFA terminates, the AFS licensee or representative must stop charging fees to the client (s962P of the Corporations Act) and inform the client in writing ...

FPA accuses ASIC of price gouging

ELIZA BAVIN  |  MONDAY, 15 JUN 2020
The Financial Planning Association of Australia has hit back at the corporate regulator accusing it of price gouging after increasing the industry funding levy for financial advisers by 38%. The FPA has urged the corporate regulator to reconsider the ...

ASIC cancels two AFSLs

ELIZA BAVIN  |  MONDAY, 1 JUN 2020
ASIC has cancelled the Australian financial services licenses of Western Australia-based, Personal Risk Management and Melbourne-based Australian Golden Securities ASIC said Personal Risk's cancellation took effect on 21 May 2020, after the company ...

ASIC takes action on two AFSLs

ELIZA BAVIN  |  FRIDAY, 29 MAY 2020
... that Squareknot did not meet the base level financial requirements of its licence. "Under 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 ...