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Search ResultsShowing 1 - 10 of 61 results for "Fee disclosure statement"
ASIC provides relief to Victorian advisers
ALLY SELBY  |  TUESDAY, 22 SEP 2020
... 62G, 962K and 962S of the Corporations Act. For breaches of 962S for pre-FOFA clients, only those with a fee disclosure statement (FDS) due between August 2 and October 26 will apply for the no-action, or for an instance where the FDS has not been given ...
Platform prototypes compliance capability
ALLY SELBY  |  THURSDAY, 18 JUN 2020
HUB24 is developing a new tech capability, which it says will identify compliance issues before they happen. The specialist platform is currently working with five licensees to build the tool, including its subsidiary Paragem, which will use machine ...
Adviser guilty of misuse of client money
ELIZA BAVIN  |  THURSDAY, 14 MAY 2020
Former financial adviser Anthony Dick pleaded guilty to 11 counts of dishonestly using his clients' money for his own personal use. Dick was charged in February this year after an ASIC investigation revealed he had accessed and transferred around ...
ASIC bans RC case study adviser
HARRISON WORLEY  |  TUESDAY, 12 MAY 2020
A former Millennium3 adviser whose advice was cited as a case study during the Royal Commission is set to appeal a 10-year ban handed down by ASIC. ASIC has banned Adelaide-based adviser Christopher Norman Harris from providing financial services for ...
Compliance worse than COVID-19
ALLY SELBY  |  THURSDAY, 23 APR 2020
Regulatory and compliance burden is a bigger challenge and disruption for financial advisers than COVID-19, the global pandemic that has ripped both economies and lives to shreds. In an interview with Financial Standard, Investment Trends research director ...
ASIC drags NAB to court for fees-for-no-service
HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... as a "systematic failure" by the regulator. "When the fees-for-no-service misconduct is coupled with fee disclosure statement inadequacies or failings, customers are potentially placed in a more disadvantageous position," Crennan said. "The customer ...
AFSLs show widespread non-compliance: ASIC
ELIZA BAVIN, JAMIE WILLIAMSON  |  THURSDAY, 28 NOV 2019
... long after ongoing fee arrangements have been terminated, ASIC has found. The report, Compliance with fee disclosure statement and renewal notice obligations , focused on whether the fee disclosure documents, provided by 30 randomly selected Australian ...
YBR to remediate wealth clients
KARREN VERGARA  |  FRIDAY, 30 AUG 2019
... ASX-listed firm identified some advice clients with ongoing fee arrangements may not have received a fee disclosure statement or a renewal notice within the time limits prescribed by the Corporations Act. YBR said it made a provision for $928,000 and ...
ASIC to crack down on platform fees
ELIZABETH MCARTHUR  |  WEDNESDAY, 14 AUG 2019
... which fees to include in the fee disclosure statements. ASIC's concerns with platforms' compliance with fee disclosure statement requirements are lengthy, extending to questions around whether fee disclosures were given to clients by financial advisers ...
Adviser stole $200k from SMSFs
ELIZABETH MCARTHUR  |  TUESDAY, 6 AUG 2019
The Australian Securities and Investments Commission (ASIC) permanently banned a former financial adviser who stole more than $200,000 from client self-managed superannuation funds. Robert Michael of Bentleigh, Victoria has been permanently banned from ...
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