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Showing 1 - 10 of 16 results for "AFS Licences"

ASIC cancels licence of Brite Advisors

ANDREW MCKEAN | MONDAY, 5 MAY 2025

... advice and investment firms to lose their licences under this mechanism. ASIC has previously cancelled six other AFS licences and four credit licences after CSLR payments were made. The CSLR, which began processing claims in April last year, can compensation ...

ASIC cancels fewer AFSLs in FY24

KARREN VERGARA | FRIDAY, 11 OCT 2024

ASIC cancelled or suspended 239 AFS licences (AFSLs) in the 2024 financial year, which is 9% lower than the prior period. Report 797 Licensing and professional registration activities, which tracks licensing and professional registration activities ...

SMSF scammers charged with criminal offences

KARREN VERGARA | WEDNESDAY, 7 FEB 2024

... investment websites between November 2020 and July 2021 under various names. The website operators used two legitimate AFS Licences without their knowledge or consent. ASIC did not name the holders of the AFSLs. Cullia, who hails from Southbank, Victoria ...

Advice firm rebrands, scores own AFSL

KARREN VERGARA | FRIDAY, 21 JAN 2022

... ability for the firm to be nimble and work with third-party providers of its own choosing. The spike in the number of AFS licences shows more financial advisers are shunning larger dealer groups in place of having complete control over how advice should ...

Demand for niche advice firms increases

KARREN VERGARA | TUESDAY, 16 NOV 2021

... size that generate $100,000 to $1 million of recurring revenue. Those looking to acquire express strong interest in AFS licences. These could be a plain vanilla-type AFSL with the standard authorisations such as superannuation, risk insurance and financial ...

More advisers switching practices

KARREN VERGARA | TUESDAY, 21 SEP 2021

... there were 19,096 practising advisers. The adviser movements pipeline shows the movement of financial advisers across AFS licences (AFSLs) and financial advice practices using the ASIC Financial Advisers Register. "With adviser numbers fluctuating by ...

ASIC drags CommSec to court

ELIZABETH MCARTHUR | MONDAY, 1 MAR 2021

... 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 as set out in ...

Half of all AFSL applications approved

ELIZABETH MCARTHUR | MONDAY, 16 DEC 2019

... 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 327 ...

ASIC takes financial planner to court

KANIKA SOOD | TUESDAY, 3 JUL 2018

... - Linchpin Capital Group and Endeavor Securities Australia - that were running managed investment schemes without AFS licences. ASIC alleged the two companies used clients' money for their own purposes. This case will be heard on July 24 in Brisbane ...

Lack of resources impacting ASIC

KERRIE SYDEE | WEDNESDAY, 1 JUN 2016

... their applications before the need for a formal determination". From 1 July - 31 December 2015 ASIC suspended 11 AFS licences due to the licensee's circumstances or as initiated by ASIC, and cancelled a further 61 AFS licences.

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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