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Showing 1 - 10 of 14 results for "AFS Licences"

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.

ASIC cracks down on advisers over PI insurance

LAURA MILLAN  |  THURSDAY, 7 AUG 2014
... released, or is in the process of releasing, 54 security bonds. It also prompted 17 entities to voluntarily cancel their AFS licences as they were no longer operating a financial services business and confirmed the professional indemnity insurance arrangements ...

ASIC cancels 8 AFSLs after review

LAURA MILLAN  |  TUESDAY, 22 JUL 2014
... voluntarily comply and all have now lodged all outstanding documents. Seventeen entities elected to voluntarily cance their AFS licences and are no longer operating a financial services business. A further seven licensees face possible suspension or ...
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