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Showing 71 - 80 of 165 results for "AFS Licensee"

Asendium partners with licensee support firm

KARREN VERGARA  |  WEDNESDAY, 22 SEP 2021
Asendium has joined forces with a licensee support firm that has more than 70 AFS Licensees nationwide. My Dealer Services is using the financial advice technology firm's software to develop compliant advice. Advisers will be able to generate in-house ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
ASIC has released more details on how financial advisers providing advice to retail clients can comply with the upcoming breach reporting law. Information sheet 259 Complying with the notify, investigate and remediate obligations sets out further guidance ...

ASIC releases grandfathered arrangement findings

KARREN VERGARA  |  FRIDAY, 16 JUL 2021
... payable on or after 1 January 2021 must be rebated by a product issuer to a product holder instead of being paid to an AFS licensee or its representatives. During the review period, 89 product issuers paid $760.5 million in GCR relating to 1273 products. ...

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The corporate regulator is seeking stakeholder feedback on updates to draft guidance on breach reporting reforms that aim to reduce industry misconduct. ASIC's draft guidance is based on reforms made to the breach reporting regime under the F inancial ...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 ...