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Showing 891 - 900 of 1277 results for "AFS"

Accountant pays $10,000 fine for $100,000 fraud

LAURA MILLAN  |  FRIDAY, 3 OCT 2014
A former Perth company director will have to pay a $10,000 fine after inducing a 70-year-old investor to give his business a cheque for $100,000 and then using it for his own purposes. Andy Kay Hooi Lim saw his 12 months jail sentence wholly suspended ...

ASIC suspends advice firm for three months

LAURA MILLAN  |  WEDNESDAY, 1 OCT 2014
The Australian Securities and Investments Commission (ASIC) has suspended a boutique financial planning practice for three months after it failed to comply with its compliance obligations. Protect Ensure, with offices in Brisbane and Sydney, has had ...

ASIC bans person who made false Facebook investment claims

JAMES FERNYHOUGH  |  THURSDAY, 25 SEP 2014
... US$200,000. According to the regulator, at the time of the conduct, Sappideen did not hold an Australian financial services (AFS) licence and was an authorised representative of an AFS licensee.

ASIC reviews FoFA progress

JAMES FERNYHOUGH  |  THURSDAY, 18 SEP 2014
... Future of Financial Advice (FoFA) reforms have had little effect on either adviser numbers or the type of financial advice AFS licensees provide, according to the Australian Securities and Investments Commission (ASIC). In its review on the implementation ...

Forget about national advice exam, focus on training: CPA

LAURA MILLAN  |  THURSDAY, 11 SEP 2014
... and consequently by many training providers." It said that "ASIC has placed the onus on the Australian Financial Services (AFS) licensee to determine what training its representatives will need to complete to meet the training requirements." CPA Australia ...

Kinetic Super launches intra-fund advice service

JAMES FERNYHOUGH  |  MONDAY, 8 SEP 2014
Kinetic Super has partnered with Industry Funds Services (IFS) to launch its first intra-fund advice service, providing members with limited advice on insurance cover, contributions or investment choice. The service will be provided and licenced under ...

Planners keen to leave big dealer groups

JAMES FERNYHOUGH  |  FRIDAY, 5 SEP 2014
Increasing numbers of financial planners are expressing interest in moving away from the big vertically integrated dealer groups, according to netwealth Advice Group's head of advice Simon Micallef. "Since February the netwealth Advice Group has had ...

Macquarie forced to contact all advice clients for remediation

LAURA MILLAN  |  FRIDAY, 15 AUG 2014
... send letters to more than 160,000 people who have been clients of MPW since it obtained its Australian financial services (AFS) license on March 1, 2004. The EU, imposed by the Australian Securities and Investments Commission (ASIC), forces Macquarie ...

CBA, ASIC unveil details of new compensation scheme

LAURA MILLAN  |  FRIDAY, 8 AUG 2014
... financial planning businesses. As part of the new program, ASIC will appoint an external compliance expert to oversee the AFS licensees' compliance with the conditions. "The expert will also review whether the steps taken by the licensees to identify ...

ASIC cracks down on advisers over PI insurance

LAURA MILLAN  |  THURSDAY, 7 AUG 2014
The Australian Securities and Investments Commission (ASIC) has cancelled seven Australian financial services (AFS) licenses that did not comply with professional indemnity (PI) insurance obligations. The review targeted licensees which had not requested ...