licensing

Financial planning

Co-regulation in sight by 2030 says FAAA

The FAAA is hopeful that it can achieve co-regulation by 2030, acting as a stepping stone towards its ultimate goal of a fully self-regulated financial advice profession ...

Financial planning

Is the AFSL regime necessary for a true profession?

Questions have been raised regarding the viability of the current Australian Financial Services licensing regime, and the role that licensees have to play in monitoring a...

Financial planning

How many AFSL applications were granted and rejected in FY22-23?

ASIC has shared how many Australian financial services licences were granted and rejected by the corporate regulator in the 2022-2023 financial year....

Financial planning

Is self-licensing the future of advice?

Advisers are likely to look towards self-registration with the regulator rather than a licensee model in the future, but self-licensing is not without its pitfalls, accor...

Policy & Regulation

APRA suspends licensing

Faced with the uncertainties of COVID-19 the Australian Prudential Regulation Authority has suspended new licensing for banks, insurers and superannuation funds....

Accounting

ASIC offers guidance to limited AFS licensees

The Australian Securities and Investments Commission has released online guidance and information sheets intended to help limited Australian financial services licensees ...

Financial planning

AFSLs warned not to hire bankrupts

AFSLs could risk breaching their compliance obligations should they choose to employ someone with a conviction or bankruptcy, and should consider the nature of the offenc...

Policy & Regulation

Tough new licensing powers flagged for ASIC

Want an AFSL? Better be ‘fit and proper’. A Government taskforce is proposing tough new powers which would enable ASIC to refuse licensing to those it deems not to be ‘fi...

Financial planning

Self-licensing riddled with risks

Advisers transitioning away from vertically integrated models should consider a co-operative group instead of self-licensing to avoid inherent risks. ...

Financial planning

QLD advisory firm establishes new AFSL

Complete Financial Balance has joined the Arthur J. Gallagher group as it looks to enhance their advice and benefit proposition to SMEs....

Financial planning

More advisers to weigh up licensing options

The financial advice market is at an inflection point of various underlying business models within Australia’s licensee brands, according to Fitzpatricks Private Wealth....

Financial planning

Moving licensees an insightful process

A former Guardian adviser found moving to a new licensee as an authorised representative provided her with comprehensive insight into her business and ASIC’s compliance p...

Financial planning

ASIC toughens licensing process

A law firm has warned AFSLs and credit licence applicants can expect ASIC to take a tougher approach to assessing their applications but the exact requirements were not c...

Financial planning

Macquarie AFSL conditions removed

ASIC has removed additional conditions it imposed on Macquarie Bank’s AFSL after a review by KPMG found no additional breaches to those the bank had already reported. ...