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Showing 1 - 10 of 779 results for "AFSL"

AFSLs undertake more reviews, lack risk documentation

KARREN VERGARA  |  TUESDAY, 18 JUN 2024
Most AFS Licensees (AFSLs) are undertaking more reviews of their systems and processes but still lack documentation when it comes to managing risk, according to a new compliance survey. Holley Nethercote's 2024 Compliance Trends Survey reveals AFSLs ...

Fiducian welcomes two practices

KARREN VERGARA  |  FRIDAY, 14 JUN 2024
... working together to provide exceptional service and support to our clients." Fiducian has 92 advisers operating under its AFSL, according to a recent Rainmaker analysis of the ASIC Financial Advisers Register. At the end of January, Fiducian had more ...

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of retail over-the-counter (OTC) derivatives issuer XTrade. XTrade offered clients opportunities to trade in contracts for difference ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
... which invested in cryptocurrency, operated an unregistered managed investment scheme (MIS) without holding an AFS Licence (AFSL) with respect to the "Earner" product, the company was relieved of any liability to pay a fine. "The Court found Block Earner's ...

ASIC suspends AFSL for six managed investment schemes

ELIZA BAVIN  |  THURSDAY, 30 MAY 2024
The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services licence (AFSL) of Aurora Funds Management until 20 September 2024. Aurora is the responsible entity of six registered managed investment schemes ...

Clime to offload Madison Financial Group

JAMIE WILLIAMSON  |  MONDAY, 27 MAY 2024
... months after Madison partnered with Godfrey Pembroke's Practice Development Group, consolidating their operational and AFSL services to create a new entity providing back-office services to their financial advice networks.

ASIC cancels Everest Asset Management's AFSL

KARREN VERGARA  |  WEDNESDAY, 22 MAY 2024
ASIC has canned the AFS Licence (AFSL) of the asset management firm linked to a massive money-laundering operations. Everest Asset Management, which was licensed to service wholesale clients, will no longer be operational. ASIC said it revoked the AFSL ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
... that then leads to a referral to another party for the provision of financial advice to consider whether they require an AFSL. "Even if they do not require a licence, they must ensure any representations they make to consumers are accurate and balanced. ...

ASIC prevails in landmark case against BPS Financial

ANDREW MCKEAN  |  MONDAY, 6 MAY 2024
... a non-cash payment facility that used the 'Qoin' cryptocurrency token, without an Australian Financial Services Licence (AFSL). ASIC chair Joe Longo said this was a significant ruling as the first court outcome against a non-cash payment facility involving ...

ASIC issues warning over scammers using fake AFSLs

ELIZA BAVIN  |  FRIDAY, 3 MAY 2024
... Securities Identification Numbers (ISINs), Australian business numbers (ABNs) and Australian financial services licence (AFSL) numbers, as well as imitating investment maturity dates, coupons and credit ratings. Scammers also use online advertisements ...
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