Search ResultsShowing 1 - 10 of 100+ results for "ASIC"
ASIC cancels slew of AFSLs
JAMIE WILLIAMSON  |  FRIDAY, 3 APR 2020
ASIC has cancelled the AFSLs of three firms, including that of former advice dealer group MyPlanner. The regulator has cancelled the Australian financial services licence of the licensee formerly known as MyPlanner Australia. The Gold Coast-based licensee ...
YBR national advice lead moves to Interprac
ELIZABETH MCARTHUR  |  FRIDAY, 3 APR 2020
... Wealth advisers will become licensed by Interprac (which holds an AFSL within the Sequoia Group). Rainmaker analysis of the ASIC Financial Adviser Register shows a few of YBR advisers have left the industry since the sale (from 58 in December 2019 to ...
Industry bodies work to ease regulatory burdens
ELIZABETH MCARTHUR  |  FRIDAY, 3 APR 2020
... Australia, SMSF Association, Institute of Public Accountants, Chartered Accountants and Certified Public Accountants - wants ASIC to offer regulatory relief so that financial advisers and accountants can better cope with the load during the COVID-19 ...
Could relief on advice compliance save consumers?
ELIZABETH MCARTHUR  |  THURSDAY, 2 APR 2020
... Walker said. "Some clients only have a landline." There has been no relaxing of the rules as yet, though. Walker wrote to ASIC and, in a response sighted by Financial Standard , the regulator said: "In certain circumstances, there have been allowances ...
Bigger balances, bigger blow: Elia
JAMIE WILLIAMSON  |  THURSDAY, 2 APR 2020
... money relative to the size of the fund," he said. Elia also dismissed talk of liquidity issues. Just yesterday APRA and ASIC publicised the fact they had jointly written to super fund trustees to ensure they prioritise liquidity, undertaking regular ...
Shortseller ordered to pay $900,000 by court
KANIKA SOOD  |  THURSDAY, 2 APR 2020
... Bonitas and Wiechert at $530,201 and damages at $368,974, declaring they had contravened both the Corporations Act and the ASIC Act. Interestingly, Bonitas had declined to appear in court for the December 9 hearing. A letter sent from Wiechert to Rural's ...
Super funds must prioritise liquidity: Regulators
HARRISON WORLEY  |  WEDNESDAY, 1 APR 2020
... superannuation sector has been told in no uncertain terms how it should deal with the ongoing impacts of COVID-19, with ASIC and APRA directing super funds to prioritise liquidity. In a joint letter sent to all registrable superannuation entities, ASIC ...
Court confirms Storm Financial founders breached duties
JAMIE WILLIAMSON  |  FRIDAY, 27 MAR 2020
... funds. Once initial investments were undertaken, "Stormified" clients were encouraged to continue investing. It was deemed by ASIC to be an unlawful managed investment scheme with which Commonwealth Bank, Macquarie Bank and Bank of Queensland were involved. ...
Former AMP adviser sentenced
ELIZABETH MCARTHUR  |  FRIDAY, 27 MAR 2020
... suitable for an Intensive Corrections Order. Martin was licensed by Charter Financial Planning and then Salisbury Group. ASIC said that Martin was a "trusted" financial adviser who invested money on behalf of clients. The regulator alleged he breached ...
IMAP not anticipating regulatory overhaul
ELIZA BAVIN  |  WEDNESDAY, 25 MAR 2020
The chair of IMAP does not expect a major overhaul of the managed accounts space when ASIC's focus returns to the MDA review. Earlier this week, ASIC announced the MDA review is being put on hold , after "recalibrating" its regulatory priorities as ...
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