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Showing 71 - 80 of 115 results for "AFS licensees"

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 ...

ASIC scolds banks over fee-for-no-service delays

HARRISON WORLEY  |  MONDAY, 11 MAR 2019
... 2017 ASIC Enforcement Review Taskforce Report, which includes a directions power. This would allow ASIC to direct AFS licensees to establish suitable customer review and compensation programs." ASIC said the delays boiled down to a variety of issues ...

Accountant banned for bad SMSF advice

HARRISON WORLEY  |  TUESDAY, 19 FEB 2019
... posed major hurdles for individuals and were not for everybody. "ASIC will continue to take action when advisers or AFS licensees don't comply with the law," she said. "Consumers need to know that managing your own super is a major commitment that can ...

ASIC cracks down on non-compliant AFSL

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
... now required to engage an independent expert to make recommendations on how to improve the practice's processes. "AFS licensees are responsible for the conduct of their representatives, and ASIC expects licensees to have effective monitoring and supervision ...

ASIC cans advice business AFSL

JAMIE WILLIAMSON  |  TUESDAY, 18 DEC 2018
... came into effect on 4 December 2018 and is part of ASIC's ongoing work to improve standards across the industry. "AFS licensees are responsible for making sure that their authorised representatives are aware of their obligations. This means that licensees ...

ASIC and Austplan agree to mutual breakup

DARREN SNYDER  |  FRIDAY, 26 OCT 2018
... representatives. ASIC is continuing to make enquiries in relation to the advice provided. ASIC deputy chair Peter Kell said: "AFS licensees have an obligation to ensure that their representatives are adequately trained and competent to provide financial ...

ASIC consults on advice code monitoring bodies

JAMIE WILLIAMSON  |  TUESDAY, 15 MAY 2018
... enforced by ASIC-approved compliance schemes. ASIC has proposed that the Corporations Act be reformed to require AFS licensees and authorised representatives to provide information to all code monitoring bodies to enable effective and proactive monitoring ...