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Showing 81 - 90 of 162 results for "AFS Licensee"

AFSL pleads guilty to mishandling client money

KANIKA SOOD | THURSDAY, 7 MAY 2020

... to face criminal prosecution for breaching client money provisions, which are designed to protect the interests of AFS licensee clients by ensuring that client money is kept separate from licensee money," ASIC said in a statement. PSAL pled guilty to ...

Former AFSL director banned

ELIZA BAVIN | TUESDAY, 5 MAY 2020

... cancelled the AFSL of Olive Financial Markets following concerns that it had not complied with its obligations as an AFS licensee and that it was likely to contravene its obligations in the future. Olive Financial applied to the Australian Appeals Tribunal ...

Foreign fund managers granted licensing relief

HARRISON WORLEY | WEDNESDAY, 11 MAR 2020

Overseas fund managers are set to be exempt from requiring an Australian financial services licence for the purposes of convincing professional investors to become a client. Under ASIC's newly released foreign financial services provider regulatory ...

Former licensee boss banned

JAMIE WILLIAMSON | TUESDAY, 11 FEB 2020

... to meet its licence obligations, ASIC said. "ASIC expects that people holding a position of responsibility with an AFS licensee, particularly directors and responsible managers, understand the obligations of financial services providers and make every ...

Half of all AFSL applications approved

ELIZABETH MCARTHUR | MONDAY, 16 DEC 2019

ASIC revealed just 53% of AFSL applications received this year were approved. ASIC received approximately 2491 applications in 2018-2019 - 64% of AFS licences, 27% for credit licences and 9% relating to professional auditor registrations. In the report ...

ASIC suspends Melbourne-based AFSL

ELIZA BAVIN | WEDNESDAY, 11 DEC 2019

... May 2020. ASIC said the licence has been suspended over concerns the company is not meeting its obligations as an AFS licensee. The regulator said Australian Golden Securities, formerly AFS Capital Securities, has failed to lodge it's accounts and audit ...

New tool launches to help FASEA code compliance

ELIZABETH MCARTHUR | MONDAY, 2 DEC 2019

With less than 20 business days until the Financial Adviser Standards and Ethics Authority Code of Ethics comes into effect, some businesses are seeing opportunity. One such organisation is MyNextAdvice, which has launched a solution to help licensees ...

AFSLs show widespread non-compliance: ASIC

ELIZA BAVIN, JAMIE WILLIAMSON | THURSDAY, 28 NOV 2019

AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...

FASEA chief to provide update

ELIZABETH MCARTHUR | WEDNESDAY, 27 NOV 2019

The chief executive of the Financial Adviser Standards and Ethics Authority will address delegates at the FPA Congress, with an update expected. FASEA chief executive Stephen Glenfield will speak as part of a regulatory update, with Julie Berry from ...

ASIC outlines Code of Ethics expectations

ELIZA BAVIN | TUESDAY, 26 NOV 2019

The Australian Securities and Investment Commission has outlined what it expects of advice licensees in regards to enforcing the Code of Ethics, saying it will not monitor or enforce individual advisers' compliance. The regulator said under the Corporations ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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