Search ResultsShowing 1 - 10 of 100+ results for "AFS"
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 ...
ASIC suspends Melbourne-based AFSL
ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... Securities until 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 ...
ASIC takes action against former AMP adviser
HARRISON WORLEY  |  THURSDAY, 5 DEC 2019
... restrain the assets of the defendants, and restrain the defendants from carrying on a financial services business without an AFS licence. The action falls within the corporate regulator's Wealth Management Major Financial Institutions Portfolio, which ...
New tool launches to help FASEA code compliance
ELIZABETH MCARTHUR  |  MONDAY, 2 DEC 2019
... organisation is MyNextAdvice, which has launched a solution to help licensees monitor adviser compliance. "ASIC has mandated that AFS Licensees are responsible for monitoring adviser compliance with the code until the Government establishes a central ...
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
... adviser for breaches of the code. "Financial advisers will still be required to comply with the code from 1 January 2020 and AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code," ...
ASIC outlines Code of Ethics expectations
ELIZA BAVIN  |  TUESDAY, 26 NOV 2019
... the code. "As announced on 14 November 2019, ASIC has taken action to provide certainty to Australian financial services (AFS) licensees that they will not be in breach of the law because their financial advisers were not able to register with an ASIC-approved ...
Registration deadline extended: ASIC
ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
... disciplinary bodies would soon be displaced by the new body. Despite the lack of a monitoring body for the code, ASIC said: "AFS licensees will still be required to take reasonable steps to ensure that their financial advisers comply with the code from ...
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