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Showing 1 - 10 of 57 results for "Australian Financial Services Licensees"

CSLR a 'shared responsibility' for all AFCA members: SMSFA

MATTHEW WAI  |  THURSDAY, 11 SEP 2025
... Burgess argued that, despite most of the levy being allocated to financial advisers, many Australian financial services licensees, who are AFCA members, are currently not responsible for the significant shortfall. "There is no element of the current ...

ASIC sues Fortnum Private Wealth

KARREN VERGARA  |  TUESDAY, 22 JUL 2025
... cyber-attack." "ASIC has been highlighting the cybersecurity responsibilities of companies. Australian financial services licensees, in particular, hold a range of sensitive and confidential information," he said.

Government to scrap advisers' approved qualifications list

KARREN VERGARA  |  MONDAY, 10 FEB 2025
... changes." Jones said: "Financial advisers are already registered by their authorising Australian Financial Services licensees under Stage 1. Not proceeding with Stage 2 removes unnecessary red tape on individual advisers."

ASIC extends two advice instruments

KARREN VERGARA  |  WEDNESDAY, 25 SEP 2024
... Situations) Instrument 2024/620 and ASIC Corporations Record-Keeping Requirements for Australian Financial Services Licensees when Giving Personal Advice) Instrument 2024/508 for the purpose of extending reliefs that were due to expire in October. They ...

ASIC intends to extend legislative instruments

MATTHEW WAI  |  FRIDAY, 9 AUG 2024
... advisers. The instruments are: Class Order [CO 14/923] Record-keeping obligations for Australian financial services licensees when giving personal advice ; ASIC Corporations and Credit (Breach Reporting-Reportable Situations) Instrument 2021/716 ; and ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... issuers to comply with the design and distribution obligations. There are currently over 60 Australian financial services licensees that offer complex, high-risk OTC derivatives to retail clients in the form of CFDs, crypto derivatives, options, and ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... Justice Hespe found that all four subsidiaries contravened their overarching obligations as Australian financial services licensees to act efficiently, honestly and fairly. It was during the 2018 Hayne Royal Commission that the egregious conduct came ...

ASIC issues warning over brokers' high-risk offers

JAMIE WILLIAMSON  |  WEDNESDAY, 31 AUG 2022
... inappropriate offers of securities lending arrangements to retail clients," Press said. "Australian financial services licensees may be liable for substantial civil penalties if they do not do all things necessary to ensure the financial services covered ...

ASIC releases estimate cost recovery levies for 2021/22

ANDREW MCKEAN  |  TUESDAY, 7 JUN 2022
... ASIC stated the approximate budgeted cost recovery would be $24.01 million across 2759 Australian financial services licensees. This figure is down from $25.76 million in 2020/21. Constituting a much smaller cost recovery amount of $500,000, licensees ...

Breach reporting guidance released

KARREN VERGARA  |  WEDNESDAY, 8 SEP 2021
... with the notify, investigate and remediate obligations sets out further guidance on how Australian financial services licensees can meet their obligations, set to commence on October 1. ASIC explains how advisers must notify affected clients of a reportable ...
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