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Search ResultsShowing 1 - 10 of 100+ results for "AFS"
ASIC refuses just 3% of AFSL relief applications
HARRISON WORLEY  |  WEDNESDAY, 24 JUN 2020
... regulator's relief application decisions in the six month period between October 2019 and March 2020, ASIC report 664 reveals most AFS licensing relief applications were approved as COVID-19 began to impact the financial services industry. The regulator ...
FPA accuses ASIC of price gauging
ELIZA BAVIN  |  MONDAY, 15 JUN 2020
... $1571 per adviser, a 38% increase on the previous year. The corporate watchdog is looking to recoup $40.17 million from 3051 AFS licensees with 22,652 advisers. While ASIC states that the indicative levies for 2019-20 are an estimate, the FPA said a ...
ASIC cancels two AFSLs
ELIZA BAVIN  |  MONDAY, 1 JUN 2020
... licence and to conduct their business lawfully," ASIC said. "Under the Corporations Act 2001, ASIC may suspend or cancel an AFS licence if the licensee fails to meet their obligations." Meanwhile, Australian Golden Securities licence was previously suspended ...
ASIC takes action on two AFSLs
ELIZA BAVIN  |  FRIDAY, 29 MAY 2020
... found that Squareknot did not meet the base level financial requirements of its licence. "Under the Corporations Act, an AFS licensee must comply with the conditions of its licence. ASIC may suspend or cancel an AFS licence if a licensee does not comply ...
ASIC revokes AFSL suspension, cancels another
ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
... cancelled the AFSL because Tailormade was in liquidation. "Under the Corporations Act 2001 , ASIC may suspend or cancel an AFS licence if the licensee is under administration and is being wound up," the regulator said. "As part of the cancellation, Tailormade ...
AFSL pleads guilty to mishandling client money
KANIKA SOOD  |  THURSDAY, 7 MAY 2020
... Australia 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 ...
Former AFSL director banned
ELIZA BAVIN  |  TUESDAY, 5 MAY 2020
... has 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 ...
Dealer group AFSL in limbo
ALLY SELBY  |  THURSDAY, 23 APR 2020
... Administrative Appeals Tribunal reviews ASIC's decision. It comes after the corporate watchdog suspended the advisory firm's AFS licence on February 12 on the grounds that it had failed to comply with its licensee obligations. ASIC alleged MyPlanner ...
ASIC cancels slew of AFSLs
JAMIE WILLIAMSON  |  FRIDAY, 3 APR 2020
... firm FS Securities had its licence cancelled on March 5 after it failed to meet the "base level financial requirements" of AFS licence holders for 2017 and 2018. It also failed to lodge annual and auditor reports for 2018 and 2019. ASIC determined the ...
AFSL suspended by ASIC
ALLY SELBY  |  MONDAY, 23 MAR 2020
A Queensland-based financial services provider has had its AFS licence suspended, impacting close to 20 financial advisers. ASIC has suspended the AFS licence of Longhou Capital Markets for three months, expiring June 12 this year. It follows the appointment ...
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