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Showing 1 - 10 of 33 results for "AFSL holders"

ASIC welcomes support for simplifying guidance on conflicts of interest

MATTHEW WAI  |  TUESDAY, 16 DEC 2025
... economic harm within the financial services sector, ASIC said. Under section 912A(1)(aa) of the Corporations Act 2001, AFSL holders must have adequate arrangements in place to effectively manage all conflicts of interest, except those that occur wholly ...

Mulino wants PII to step up to make CSLR sustainable

KARREN VERGARA  |  MONDAY, 15 DEC 2025
... Australian market is therefore largely inelastic," the paper read. "As of 20 November 2025, there were over 6400 AFSL holders with over 52,000 current authorised representatives, and approximately 4400 ACL holders with over 49,000 current credit representatives ...

ASIC suspends Newcastle advice firm's AFSL over missing key person

MATTHEW WAI  |  FRIDAY, 28 NOV 2025
... dependent on the competence of one or two responsible managers in the provision of the financial services. Hence, AFSL holders must ensure they are always aware of the conditions on their licence and ensure they operate according to those conditions. ...

FAAA's Advice Academy launches

KARREN VERGARA  |  FRIDAY, 28 NOV 2025
... Striver. FAAA chief executive Sarah Abood said the academy assists PY candidates and their supervisors, employers and AFSL holders through a comprehensive one-stop shop service which responds to the need for centralised, trusted support and information. ...

Shield, First Guardian fallout calls for tougher scrutiny on research houses, licensee governance

MATTHEW WAI  |  FRIDAY, 24 OCT 2025
... the accuracy and independence of their reports, partly because it is generally only distributed to advisers who are AFSL holders, and technically because it doesn't contain advice. The research house is therefore not sufficiently held to account. "Rather ...

Mercer Super sued over 'longstanding and systemic' failures

JAMIE WILLIAMSON  |  THURSDAY, 14 AUG 2025
... another was reported more than a year later than it should have been. Under the Reportable Situations Regime, all AFSL holders must notify ASIC of a reportable situation - in this instance, a significant breach of 'core obligations' - within ...

Property fund management firm loses AFSL

MATTHEW WAI  |  TUESDAY, 15 OCT 2024
... 2024. Elancorp (credit licence number 386741). Licence cancelled 16 September 2024. ASIC said it is important for AFSL holders to adhere to their obligations to assure a "free, fair and independent" dispute resolution scheme for consumers.

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... Fund Services, alleging that between March 2019 and October 2021 it failed to comply with six of the obligations of AFSL holders. ASIC's beliefs were backed by the Federal Court, which found Lanterne failed to have adequate risk management systems; have ...

Sequoia expands professional services arm

CASSANDRA BALDINI  |  WEDNESDAY, 12 JUL 2023
... aligns with its strategic vision of providing an extensive range of services to accountants, financial advisers, AFSL holders and lawyers. "We are delighted to have the Castle team join us and look forward to combining our expertise with that of Castle ...

Breach reporting regime a distraction: Report

JAMIE WILLIAMSON  |  TUESDAY, 3 MAY 2022
... has led to a noticeable increase in the number of breaches being reported," the report states. "Importantly, only AFSL holders were subject to the breach reporting regime prior to 1 October 2021. The increases relate to them, as ACL holders have no prior ...
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