Search ResultsShowing 1 - 10 of 100+ results for "AFS"
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 ...
Investment manager criminally charged
ELIZA BAVIN  |  WEDNESDAY, 18 MAR 2020
... in the Corporations Act 2001. "Client money provisions protect the interests of clients of Australian financial services (AFS) licensees by separating client money from money belonging to licensees," ASIC said. "Breaching client money provisions is serious ...
Foreign fund managers granted licensing relief
HARRISON WORLEY  |  WEDNESDAY, 11 MAR 2020
... Australian regime. Overseas firms holding a new foreign entities license will be exempt from some obligations which apply to AFS licensees, including financial requirements, with ASIC satisfied similar regulatory supervision and outcomes will be achieved ...
Queensland adviser barred from industry
ALLY SELBY  |  WEDNESDAY, 26 FEB 2020
A Queensland-based financial adviser has been permanently banned and an AFS licence canned, after the corporate watchdog found he had procured loans for his own use from SMSF clients. ASIC has banned William John Henry Houwing, also known as Jack Houwing ...
Former licensee boss banned
JAMIE WILLIAMSON  |  TUESDAY, 11 FEB 2020
... resources 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 ...
Corrupt adviser banned, AFSL canned
ALLY SELBY  |  TUESDAY, 4 FEB 2020
... ASIC has banned a Queensland-based financial adviser from providing financial services for seven years and cancelled the AFS licence of his business. The corporate regulator found that Timothy Shapter had not provided advice in his client's best interests ...
Concerns over cancelled ASFL complaints
ELIZA BAVIN  |  THURSDAY, 19 DEC 2019
... that the company had ceased to carry on a financial services business. "In light of this, ASIC has cancelled the company's AFS licence," the regulator said. "Since the suspension of KP International Group Australia AFS licence, the Australian Financial ...
Half of all AFSL applications approved
ELIZABETH MCARTHUR  |  MONDAY, 16 DEC 2019
... 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 said: "We approved ...
Pershing Securities breaches client money obligations
ALLY SELBY  |  WEDNESDAY, 11 DEC 2019
... been adjourned until 4 February 2020. Meantime, Pershing has accepted additional licence conditions imposed by ASIC on its AFS licence. These additional conditions will require Pershing to appoint an independent expert to review the company's ability ...
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