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Showing 1 - 10 of 46 results for "Corporate Authorised Representative"

Sanlam Private Wealth breaches licensee obligations, hit with enforceable undertaking

MATTHEW WAI  |  MONDAY, 6 JAN 2025
Sanlam Private Wealth, the Australian arm of the South African Sanlam Group, has admitted to breaching licensee obligations by "failing to adequately supervise" its authorised representatives and corporate authorised representatives (CARs), following ...

Court finds CFD issuers engaged in 'unconscionable conduct'

ELIZA BAVIN  |  MONDAY, 23 DEC 2024
The Federal Court has found that collapsed contracts for difference (CFD) issuer, Union Standard International Group (USG) and two of its former corporate authorised representatives, BrightAU Capital (trading as TradeFred) and Maxi EFX Global AU (trading ...

Powerhouse Ventures to acquire Aliwa

KARREN VERGARA  |  FRIDAY, 20 SEP 2024
... profitable entity with experienced compliance operatives. It currently has a number of existing Corporate Authorised Representative (CAR) agreements with existing fund management businesses," he said.

iExtend receives AFSL after lengthy wait

JAMIE WILLIAMSON  |  THURSDAY, 4 JUL 2024
... for an AFSL. That AFSL has now been granted; in the interim iExtend has been operating as a corporate authorised representative of Ingenious Brokers. iExtend said having the AFSL "also broadens the scope of iExtend's offering, enabling iExtend to fully ...

ASIC takes action against Guildfords FM, director

KARREN VERGARA  |  FRIDAY, 28 JUN 2024
... director of Guildfords since January 2001. The Guildford group comprises Guildfords Markets and corporate authorised representative Guildfords Business Consultants. ASIC deemed Payne "lacked the competence and diligence required of a responsible manager" ...

ASIC clamps down on advisers, trustees cold calling

KARREN VERGARA  |  TUESDAY, 7 MAY 2024
Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds. An overwhelming number of members are goaded into leaving ...

OpenMarkets brings on corporate advisory firm

JAMIE WILLIAMSON  |  THURSDAY, 2 MAY 2024
... arrangements, and management buyouts. Under the agreement, Rawson Lewis will operate as a Corporate Authorised Representative of Openmarkets. OpenMarkets chief executive Dan Jowett said the company is looking to capitalise on onshore and offshore equity ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
Lanterne Fund Services was issued a $1.25 million penalty by the Federal Court for failing to comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings ...

New chair for iExtend

CHLOE WALKER  |  WEDNESDAY, 14 FEB 2024
... it was found to be operating without one. For the time being, iExtend is operating under a Corporate Authorised Representative arrangement, acting as an agent of another AFSL. "We are delighted to have Peter join iExtend as chair and are fortunate to ...

iExtend finds interim arrangement to operate

KARREN VERGARA  |  TUESDAY, 6 FEB 2024
... being rebuked by ASIC for operating without an AFS Licence, iExtend is now running under a Corporate Authorised Representative (CAR) arrangement for the interim. A CAR enables iExtend to act as an agent of an AFS Licensee, meaning it is authorised to ...
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