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Search ResultsShowing 1 - 10 of 100+ results for "Australian Financial Services License"
ASIC cancels two AFSLs
ELIZA BAVIN  |  MONDAY, 1 JUN 2020
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 ...
ASIC turns up the heat on enforcement
HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... 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 launches action against AFSL, director
ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
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 ...
AFSLs show widespread non-compliance: ASIC
ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
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 ...
Registration deadline extended: ASIC
ELIZABETH MCARTHUR  |  THURSDAY, 14 NOV 2019
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. ...
ASIC calls out accountants
ELIZA BAVIN  |  TUESDAY, 5 NOV 2019
... 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 ...
Whistleblower calls out approved product lies
ELIZA BAVIN  |  WEDNESDAY, 23 OCT 2019
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. ...
Dealer group shuts after advisers depart
KANIKA SOOD  |  FRIDAY, 18 OCT 2019
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 ...
ASIC nudges robo-adviser to shutter
ELIZABETH MCARTHUR  |  FRIDAY, 18 OCT 2019
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 ...
Elders in discussions over future
ELIZA BAVIN  |  TUESDAY, 8 OCT 2019
... 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 ...
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