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Showing 71 - 80 of 788 results for "AFSL"

Madison FG, Godfrey Pembroke's PDG combine services

KARREN VERGARA  |  THURSDAY, 17 AUG 2023
... Group has joined forces with Godfrey Pembroke's Practice Development Group (PDG), consolidating their operational and AFSL services to create a new entity providing back-office services to their financial advice networks. Madison signed a non-binding ...

Veteran adviser cops permanent ban

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
... any functions in financial services as he is "not a fit and proper person" to do so. ASIC has subsequently cancelled the AFSL of PWMS with a condition that the external dispute resolution and arrangements for compensating clients remain in place for ...

FSCP issues slap on the wrist to adviser

KARREN VERGARA  |  FRIDAY, 11 AUG 2023
... written reprimand," he said. A reprimand is not published on the Financial Adviser Register but is provided to an adviser's AFSL. "It's somewhat along the lines of saying, 'You didn't get this right, do better next time', and likely ...

Treasury consults again on FFSP exemptions

JAMIE WILLIAMSON  |  TUESDAY, 8 AUG 2023
... would mean those regulated by comparable regulators and providing financial services to wholesale clients would not need an AFSL. This will replace the sufficient equivalence relief which is already being transitioned out; once transitional arrangements ...

Are indexes the next target for greenwashing investigations?

RACHEL ALEMBAKIS  |  TUESDAY, 8 AUG 2023
... finance product issuers," the spokesperson said. "ASIC's jurisdiction includes, but is not limited to, providers with an AFSL, credit licence, otherwise engaging in financial services or those who have disclosure obligations such as market participants." ...

Advisers lacking PII sidestep AFCA rulings

KARREN VERGARA  |  FRIDAY, 28 JUL 2023
Financial advice firms are "problematically" sidestepping compensation payments after the Australian Financial Complaints Authority (AFCA) hands down a decision, using the excuse that they do not have professional indemnity insurance (PII). Out of 5400 ...

ASIC acts against illegal investment scheme operator

JAMIE WILLIAMSON  |  WEDNESDAY, 26 JUL 2023
... estate in Queensland, Victoria, New South Wales and South Australia. However, at no time did Hopkins or his company hold an AFSL that allowed such activity. Hopkins promoted at least 25 development joint ventures, raising more than $32 million from clients. ...

ASIC cancels FTX Australia's licence

CASSANDRA BALDINI  |  WEDNESDAY, 19 JUL 2023
... arrangements for compensating retail clients. FTX entered voluntary administration on November 11, and the regulator suspended its AFSL until 15 May 2023, which was subsequently extended to 24 July 2023. KordaMentha partners John Mouawad, Scott Langdon ...

FY23 farewells 700 advisers

KARREN VERGARA  |  FRIDAY, 14 JUL 2023
Financial advice firms AMP Financial Planning, Synchron, and Charter farewelled the largest number of advisers, dragging down the total population to 15,708 from 16,415 at the end of the 2023 financial year. Rainmaker analysis of ASIC's Financial Adviser ...

Sequoia expands professional services arm

CASSANDRA BALDINI  |  WEDNESDAY, 12 JUL 2023
... acquisition aligns with its strategic vision of providing an extensive range of services to accountants, financial advisers, AFSL holders and lawyers. "We are delighted to have the Castle team join us and look forward to combining our expertise with ...