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Search ResultsShowing 1 - 10 of 100+ results for "AFS"
ASIC drags CommSec to court
ELIZABETH MCARTHUR  |  MONDAY, 1 MAR 2021
... Corporations Act in that they failed to do all things necessary to ensure that the financial services covered by their respective AFS licences were provided efficiently, honestly and fairly by reason of various failures in systems, processes and people ...
Remains of Melissa Caddick found
ELIZABETH MCARTHUR  |  FRIDAY, 26 FEB 2021
A foot in a shoe has been identified as belonging to missing woman Melissa Caddick, the woman who claimed to be a financial adviser and is the subject of an ongoing ASIC investigation. The human remains were discovered on a beach on the NSW South Coast ...
ASIC zeroes in on bad SMSF advice, conduct
KARREN VERGARA  |  TUESDAY, 23 FEB 2021
The corporate regulator continues to hunt down perpetrators that give bad advice to self-managed super funds, sounding a warning that it is flexing its new powers in superannuation. ASIC commissioner Danielle Press told the recent SMSF Association's ...
ASIC imposes licence conditions on Poynter Hargraves
ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
... managing conflicts of interest and adequate audit processes to monitor and supervise their representatives," the regulator said. "AFS licensees should conduct sufficient periodic audits of all their advisers and use suitably qualified staff to conduct ...
ASIC suspends RE licence
KARREN VERGARA  |  MONDAY, 8 FEB 2021
The corporate regulator has suspended the AFSL of a responsible entity that oversees a property and mortgage fund for breaching several compliance and reporting obligations. The licence of Queensland-based financial services provider Investors Exchange ...
High Court dismisses Westpac appeal
JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
The High Court has affirmed the Federal Court's 2019 decision that two Westpac subsidiaries provided unlicensed personal financial advice. In a decision handed down today, the High Court of Australia dismissed Westpac's appeal, determining the ...
Reference checks should cover all advice: FPA
KARREN VERGARA  |  MONDAY, 1 FEB 2021
... and not just financial advisers. The reforms emanate from the financial services Royal Commission , which recommends that AFS licensees should be required to comply with reference checking and information-sharing regulations like what the Australian ...
Hume advocates for affordable advice
KARREN VERGARA  |  WEDNESDAY, 20 JAN 2021
The federal government is driving hard the importance of accessing quality, affordable financial advice. Minister for Superannuation, Financial Services and the Digital Economy Jane Hume has flagged the opportunities the Morrison government will take ...
ASIC cancels stockbroker AFSL
ANNABELLE DICKSON  |  WEDNESDAY, 13 JAN 2021
... professional indemnity insurance cover and terminating existing arrangements with clients. Last year ASIC suspended Halifax's AFS licence until 10 January 2020 following the appointment of Ferrier Hodgson as voluntary administrators on 23 November 2018. ...
AMP adviser numbers shrivel
ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
The number of financial advisers licensed by AMP dropped dramatically in 2020, with the institution no longer the largest AFSL in the country by number of advisers. The largest AFSL is now the SMSF Adviser Network which had 839 advisers as at 31 December ...
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