AFS

Policy & Regulation

ASIC acts to remove AFS licence of two firms

ASIC has changed the status of the AFS licence for two financial services groups, one of which had its director banned in October over his refusal to pay AFCA determinati...

Financial planning

ASIC changes requirements for use of lease assets

The Australian Securities and Investments Commission has changed the financial requirements for some types of Australian financial services licensees by allowing them to ...

Funds management

Unregistered managed investment scheme wound up

The Australian Securities and Investments Commission has announced that the Federal Court has ordered the winding up of un unregistered managed investment scheme operated...

Financial planning

ASIC suspends Union Standard’s AFS

The Australian Securities and Investments Commission (ASIC) has suspended the Australian Financial Services licence of Sydney-based retail over-the-counter derivatives is...

Funds management

Will lawyers find themselves in the same regulatory boat as advisers?

The Government’s proposed changes to class action and litigation funding may see lawyers subject to some of the same obligations as financial advisers, according to the A...

Financial planning

TWUSuper acknowledges ‘embedding’ personnel in TWU branches

TWUSuper has acknowledged to a Parliamentary Committee that it has personnel embedded within branches of the Transport Workers Union but none of them are providing advice...

Financial planning

Financial Planning Research Journal announces award winners

The Financial Planning Research Journal, published by Griffith University and the Financial Planning Association of Australia, has introduced three new research awards an...

Financial planning

ASIC confirms end to Spectrum license

The Australian Securities and Investments Commission has confirmed the cancellation of the Spectrum Wealth Advisers license and has notified all advisers and clients of t...

Life/Risk

Retail insurance laws to require greater diligence from sellers

While the new design and distribution obligations for retail insurance products will impact insurers more, sellers of retail insurance products will still see some new re...

Financial planning

AFSL applicants need to act fast on PI cover

With the Royal Commission resulting in a tougher insurance market, organisations looking to get professional indemnity cover should act quickly to ensure they’re not left...

Financial planning

ASIC cracks down on dual ARs

The Australian Securities and Investments Commission has revoked the authorisations of 58 authorised representatives who it found had been inappropriately dual-authorised...