AFSL

Accounting

ASIC numbers revealed application and approval numbers remained low for accountants even as the removal of the accountants exemption for advising on SMSFs loomed....

Financial planning

Do accountants know the boundaries under limited licensing?

Limited licensing for accountants is all well and good, but how will it be policed, financial services mergers and acquisitions consultant, John Birt asks....

Financial planning

Former Securitor practice goes alone on Gen X and Y AFSL

Former Secuitor practice, Experience Wealth, has gone it alone with an AFSL aimed directly at Gen X and Y clients....

Financial planning

ASIC imposes licence conditions on wealth management firm

ASIC has imposed new licence conditions on Morgans Financial Limited after it found several breach incidents over recent years. ...

Financial planning

Suncorp to exit financial planning

Suncorp Life announced it will exit from its Guardian Advice and Suncorp Financial Planning businesses mid-2016, affecting the jobs of around 170 advisers....

Life/Risk

Banned director’s firm’s AFSL cancelled

ASIC has cancelled insurance broker, Leedam’s AFSL a month after its sole director was banned from providing financial services....

Accounting

Accountants stalling on licensing risk losing SMSF clients: AFSL

Many accountants are sitting on the hands not knowing what to do ahead of the expiry of the Accountants’ Exemption, according to one AFSL holder....

Funds management

OCM fined over misleading advertising

Australian financial services licensee, Online Capital Markets, has paid $30,600 in penalties after receiving three infringement notices from ASIC for misleading online a...

Financial planning

AFSL holder requests licence cancellation

A wholesale service provider’s AFSL has been cancelled by ASIC at the business’s request, two months after the regulator suspended it....

Life/Risk

Property spruiker gave unlawful advice for five years

Park Trent Properties Group has been found to have given unlawful advice to over 860 people to establish and switch funds into an SMSF....

Accounting

Paradigm joins chase for accountants

With less than a year to go to the end of the accountants’ exemption, another advice group has started offering accounting practices an outsourced AFSL facility....

Policy & Regulation

Retail derivative issuer’s AFSL cancelled

LSG Group’s AFSL has been cancelled by ASIC after it failed to comply with the conditions on its licence and financial services laws....

Financial planning

ASIC cancels WA insurer licence

ASIC has cancelled the AFSL of a Western Australian insurance provider for breaches of various reporting, financial and other licensee obligations....