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Search ResultsShowing 1 - 10 of 100+ results for "AFSL"
ASIC zeroes in on bad SMSF advice, conduct
KARREN VERGARA  |  TUESDAY, 23 FEB 2021
... seminars. The case of Melissa Caddick, who is currently at large, is an example. Caddick's firm Maliver operated without an AFSL and used another company's licence without authorisation. Another case involves John Louis Anthony Bigatton, who ...
ASIC imposes licence conditions on Poynter Hargraves
ELIZABETH MCARTHUR  |  WEDNESDAY, 10 FEB 2021
ASIC has hit AFSL Poynter Hargraves Financial Consultants with additional licence conditions, requiring it to remove its sole responsible manager. "This follows a targeted surveillance by ASIC that found Poynter Hargraves had poor risk controls around ...
ASIC suspends RE licence
KARREN VERGARA  |  MONDAY, 8 FEB 2021
The corporate regulator has suspended the AFSL of a responsible entity that oversees a property and mortgage fund for breaching several compliance and reporting obligations. The licence of Queensland-based financial services provider Investors Exchange ...
High Court dismisses Westpac appeal
JAMIE WILLIAMSON  |  WEDNESDAY, 3 FEB 2021
The High Court has affirmed the Federal Court's 2019 decision that two Westpac subsidiaries provided unlicensed personal financial advice. In a decision handed down today, the High Court of Australia dismissed Westpac's appeal, determining the ...
Hume advocates for affordable advice
KARREN VERGARA  |  WEDNESDAY, 20 JAN 2021
The federal government is driving hard the importance of accessing quality, affordable financial advice. Minister for Superannuation, Financial Services and the Digital Economy Jane Hume has flagged the opportunities the Morrison government will take ...
ASIC cancels stockbroker AFSL
ANNABELLE DICKSON  |  WEDNESDAY, 13 JAN 2021
The corporate regulator has cancelled the Australian financial services licence of Halifax Investment Services nearly two years after it was placed into administration. The cancellation took effect from 8 January 2021 and allows the licence to operate ...
AMP adviser numbers shrivel
ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... The number of financial advisers licensed by AMP dropped dramatically in 2020, with the institution no longer the largest AFSL in the country by number of advisers. The largest AFSL is now the SMSF Adviser Network which had 839 advisers as at 31 December ...
Missing Caddick's mansion on the line
ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... provisional liquidators to her business Maliver. ASIC has concerns that Maliver was providing financial services without an AFSL and that the AFSL of another company may have been used without authorisation. The regulator also alleges that investor funds ...
Almost 3000 advisers gone in 2020
ELIZABETH MCARTHUR  |  FRIDAY, 18 DEC 2020
... joining, according to Rainmaker analysis of the Financial Adviser Register. AMP Financial Planning lost the most advisers of any AFSL this year, with 323 departing between January and December. The Advisers' Association Neil Macdonald said there are ...
ASIC takes action on Union Standard
KARREN VERGARA  |  TUESDAY, 15 DEC 2020
... undertaking to the court to keep specified monetary amounts in a separate bank account. In July, ASIC suspended Union Standard's AFSL and two months later cancelled it. In the same month, BRI Ferrier was appointed as administrator. Liquidators were appointed ...
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