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Search ResultsShowing 1 - 10 of 100+ results for "AFSL"
Government offers guidance provision relief
HARRISON WORLEY  |  TUESDAY, 26 MAY 2020
... the removal of exemptions in the Corporations Act which allow litigation funders to operate outside the Act, without an AFSL. Frydenberg said the government wants more regulatory oversight of litigation funders. By removing the exemptions, litigation ...
Litigation funders will need AFSLs
ELIZABETH MCARTHUR  |  FRIDAY, 22 MAY 2020
... litigation funders to be subject to greater regulatory oversight. "Litigation funders are currently exempt from holding an AFSL and being categorised as a managed investment scheme," Frydenberg said. "As a result, litigation funders do not face the same ...
ASIC revokes AFSL suspension, cancels another
ELIZA BAVIN  |  TUESDAY, 19 MAY 2020
ASIC has cancelled the AFSL of a financial services provider and revoked its suspension of a separate AFSL. The regulator revoked the ASFL of NSW-based Tailormade Financial Strategies, effective 9 April 2020. ASIC said it cancelled the AFSL because ...
ASIC releases weekly regulatory tracker
ELIZA BAVIN  |  FRIDAY, 8 MAY 2020
... regulatory changes, including to market integrity rules, implementing recommendations from the Royal Commission and guidance on AFSL requirements. ASIC said it remains committed to focusing its efforts on COVID-19 related regulatory issues until at least ...
AFSL pleads guilty to mishandling client money
KANIKA SOOD  |  THURSDAY, 7 MAY 2020
In the first case of its kind in Australia, an AFSL is facing criminal prosecution for mishandling client monies, and has pleaded guilty. Pershing Securities Australia Pty Ltd (PSAL) pleaded guilty at the Downing Centre Local Court in Sydney to mishandling ...
Former AFSL director banned
ELIZA BAVIN  |  TUESDAY, 5 MAY 2020
ASIC has cancelled the AFSL of Olive Financial Markets following concerns that it had not complied with its obligations as an AFS licensee and that it was likely to contravene its obligations in the future. Olive Financial applied to the Australian ...
Dealer group AFSL in limbo
ALLY SELBY  |  THURSDAY, 23 APR 2020
The suspension of MyPlanner Professional Services' AFSL is on ice as the Administrative Appeals Tribunal reviews ASIC's decision. It comes after the corporate watchdog suspended the advisory firm's AFS licence on February 12 on the grounds ...
Should unused services on AFSLs be subject to ASIC levy?
KANIKA SOOD  |  FRIDAY, 17 APR 2020
An AFSL holder asked the court to review its entreaty to ASIC to waive industry funding levy for services that it was licensed to offer but did not. Polymath Investors acquired an Australian Financial Services Licence in 2010 to work with wholesale ...
BAS agents to give financial advice
ELIZABETH MCARTHUR  |  FRIDAY, 17 APR 2020
... of Advice when doing so; permitted registered tax agents to give advice to existing clients about the scheme without an AFSL; and issued a temporary no-action position for super trustees to expand the scope of personal advice that can be provided under ...
ASIC provides relief around early super access advice
JAMIE WILLIAMSON  |  TUESDAY, 14 APR 2020
... Advice (SOA) when doing so; permitted registered tax agents to give advice to existing clients about the scheme without an AFSL; and issued a temporary no-action position for super trustees to expand the scope of personal advice that can be provided ...
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