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Showing 1 - 10 of 86 results for "AFS Licensees"

Adviser registration deadline moves to February 16

KARREN VERGARA  |  FRIDAY, 19 JAN 2024
... register. "Given that the period for registration has coincided with the summer holiday period, ASIC is providing AFS licensees an additional two weeks to register their relevant providers," the regulator said. The change of date comes amidst the Financial ...

ASIC confirms adviser registration deadline

KARREN VERGARA  |  WEDNESDAY, 29 NOV 2023
... authorised the relevant provider at the relevant time, will be breaking the law, ASIC said. "It is crucial that AFS licensees and Relevant Providers understand their obligations in relation to relevant provider registration." ASIC will also host two ...

AFCA tightens wholesale investor remit

KARREN VERGARA  |  FRIDAY, 17 NOV 2023
... than $2.5 million or $250,000, you are a professional investor under Section 761 G (7) (D)," he said. This includes AFS Licensees with over $10 million dollars or the investment amount is at least $500,000 (under section 761G (7)(A)). "You can also be ...

ASIC updates qualified tax relevant provider definition

KARREN VERGARA  |  TUESDAY, 7 NOV 2023
... (financial) advice services for the first time," ASIC said. "It is important to note that it is the responsibility of AFS licensees to ensure that the information recorded on the Financial Advisers Register about their relevant providers is correct." ...

Advice from Shartru failed best interests duty, ASIC says

JAMIE WILLIAMSON  |  MONDAY, 31 JUL 2023
... 2012. It added a compliance manager in January of this year, followed by a risk and compliance manager in April. "AFS licensees are responsible for ensuring their representatives comply with financial services laws. ASIC expects licensees to have adequate ...

ASIC updates breach reporting guidelines

KARREN VERGARA  |  FRIDAY, 28 APR 2023
... for financial advisers. The corporate watchdog detailed several changes to Regulatory Guide 78 Breach reporting by AFS licensees and credit licensees, following consultation from the likes of super funds, financial advisers, banks and insurance firms ...

ASIC cans Binance AFSL

KARREN VERGARA  |  TUESDAY, 11 APR 2023
... how Binance classified retail and wholesale clients. ASIC chair Joe Longo said it is "critically important that AFS licensees classify retail and wholesale clients in accordance with the law". "Retail clients trading in crypto derivatives are afforded ...

Advice group chief fakes exam result, banned

JAMIE WILLIAMSON  |  THURSDAY, 16 MAR 2023
... financial adviser qualified for the extension)," ASIC said. "As a result of this proactive review, the relevant AFS licensees (or where necessary, ASIC) have corrected the authorisation status or cease dates of over 1300 individuals, so that the FAR ...

ASIC FAR to display adviser QTRP status

CHLOE WALKER  |  TUESDAY, 10 JAN 2023
... Board are taken to be QTRPs under transitional provisions. ASIC wrote to each of these advisers and their respective AFS licensees notifying them of their QTRP status. FAR will generally display that these financial advisers can provide tax (financial) ...

ALRC should prioritise advice regulations: FPA

CASSANDRA BALDINI  |  THURSDAY, 8 DEC 2022
... obligations placed on individual financial planning practitioners should be separated from the requirements that apply to AFS licensees and product providers. "The ongoing dialogue between the ALRC, the FPA and the financial services sector more broadly ...
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