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|ASIC has cancelled the Australian financial services licenses of Western Australia-based, Personal Risk Management and Melbourne-based Australian Golden Securities ASIC said Personal Risk's cancellation took effect on 21 May 2020, after the company ...|
|... manipulation, auditor and liquidator breaches, and breaches of licensing obligations, including Australian financial services license obligations. Additionally, ASIC said it had completed on-site reviews at each of the aforementioned institutions, with ...|
|ASIC has commenced action in the Federal Court in Western Australia focused on the promotion and management of the Sterling Income Trust. The regulator said the action is against Theta Asset Management, an Australian financial services licensee and ...|
|AFS licensees are consistently failing to provide correct information about advice fees to clients and are potentially still charging fees long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure ...|
|ASIC has told Australian financial services licensees that they will not be in breach of the law because their financial advisers were not able to register with ASIC-approved compliances schemes. The original deadline for registering was 1 January 2020. ...|
|... by Treasury, the regulator said it does not believe accountants should be exempt from the Australian Financial Services license regime, but that the system does need simplifying. "While we do not consider that there is any justifications for re-instating ...|
|A new paper on the consumer impact of Approved Product Lists (APLs) claims institutionally-aligned Australian Financial Services Licensees (AFSLs) are funneling new clients into in-house products, potentially in breach of Best Interest Duty obligations. ...|
|A dealer group boss decided to close down its Australian Financial Services License after finding it hard to restock advisers with the FASEA education requirements. Queensland-based Myonlineadvisers was started by James Sutherland in 2012 as a non-aligned ...|
|A digital advice firm has voluntarily shut down two robo-advice tools after ASIC raised concerns. Lime FS, a Sydney-based Australian financial services licensee, was running corporate authorised representatives Plenty Wealth, Plenty Plus and Lime Wealth ...|
|... proposal," Elders said. Elders does not directly employ any advisers, but authorises use of it Australian Financial Services License to 63 advisers who operate their own independent businesses. Elders said it has been in discussions over the businesses ...|
Allowing more members in SMSFs is unlikely to spur their establishment rates, according to a submission by University of Sydney's Susan Thorp.
One of Japan's largest providers of shareholder services has admitted to a major operational blunder, after it failed to count 3.4 million postal votes for nearly 1000 companies ahead of their annual general meetings.
BetaShares' Nasdaq 100 ETF exceeded $1 billion in assets under management at the end of August, a net increase of more than $500 million since the outset of the year.
Robeco announced it will now exclude investments in thermal coal, oil sands and Arctic drilling from all its mutual funds.
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