Ezi milestone
The Australian Securities and Investments Commission (ASIC) has granted an Australian Financial Services Licence (AFSL) to outsourced payment firm Ezi Payment Solutions.
To qualify for an AFSL the company had to meet several ASIC requirements, which included having company officers with a decade of financial services experience, employee training for staff giving advice and an external complaints and dispute resolution system, among others.
Commenting on the company’s licence, Ezi Payments Solutions chief John de Stefani said gaining ASIC recognition is a milestone for the company.
“The business underwent an extremely rigorous assessment with ASIC before the licence was granted and it was very satisfying to see our people and processes meet the high standards required to qualify for the Australian Financial Services Licence,” he said.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
