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Showing 1 - 10 of 1089 results for "AFS"

Former Life Plan FP adviser cops ban

KARREN VERGARA  |  FRIDAY, 24 MAY 2024
... to provide advice that was appropriate to clients, did not prioritise the interest of clients above his own or that of his AFS Licensee. Nabi also gave clients a disclosure statement that contained misleading or deceptive statements. ASIC ultimately ...

ASIC issues experienced pathway guidance

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
... provide personal advice to retail clients on relevant financial products on that date. INFO 281 also provides guidance to AFS Licensees on their requirements to notify ASIC when they receive a declaration from an experienced provider they authorise. ...

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations. Everest Asset Management, which was licensed to service wholesale clients, will no longer be operational. ASIC said it revoked the AFSL ...

BitConnect promoter pleads guilty

KARREN VERGARA  |  MONDAY, 20 MAY 2024
... lending period, ASIC's investigation found. On top of this, Bigatton provided financial product advice without holding an AFS Licence or authorisation to provide financial services about the Lending Platform and BCC. He will be sentenced on July ...

Social media influencers charged for promoting shady investments

ANDREW MCKEAN  |  FRIDAY, 17 MAY 2024
... followers to deal in a financial product. It said influencers who conduct a business of providing financial services must hold an AFS license unless exempt or authorised to provide those services as a representative of another license holder. Failure ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
ASIC has won a case against BPS Financial, following a Federal Court ruling that found the latter guilty of offering 'Qoin Wallet,' a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
ASIC has issued a fresh warning over the increase in the sophistication of fake bond and term deposit scams. ASIC said scammers are impersonating little-known legitimate financial services businesses, often those without a website or digital footprint. ...

ASIC cancels AFSL of JB Markets

ELIZA BAVIN  |  TUESDAY, 23 APR 2024
... reasonable to believe that JB Markets was likely to breach financial services laws. "ASIC imposes financial requirements upon AFS licensees to help ensure that they have sufficient financial resources to conduct their business in compliance with financial ...

Adviser numbers plateau

KARREN VERGARA  |  THURSDAY, 18 APR 2024
... details the person's name, the type of disciplinary action, and adviser status. The disciplinary actions break down into AFS banned/disqualification, enforceable undertaking, disqualified person, credit banned/disqualification, Financial Services ...
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