AFSL

Financial planning

The Australian Securities and Investments Commission has suspended the Australian financial services licence of Queensland-based financial services provider Investors Exc...

Policy & Regulation

ASIC cancels AFSL and ACL of Mortgage and General Financial Services

Both licences were cancelled because the firm failed to demonstrate it has the competence and resources to provide financial services and credit activities. ...

Features

A turning point for the advice relationships and value exchange

Money Management is continuing its wealth management series, in which we are speaking to financial planning groups to hear their views on the industry. This month, Money ...

Life/Risk

Give advisers as much freedom as lawyers on insurance claims

Financial advisers should be granted as much leeway as lawyers in providing assistance with insurance claims, according to the Association of Financial Advisers....

Financial planning

FPA calls for dilution of licensee influence

The Financial Planning Association has leveraged the Australian Securities and Investments Commission’s affordable advice review to drive home its policy for financial ad...

Financial planning

Allegra’s AFSL refusal upheld by AAT

The Administrative Appeals Tribunal was not satisfied Allegra Financial Services would provide financial services that was efficient, honest, and fair. ...

Financial planning

FPA urges imposition of regulatory requirements on 'strategic advice'

Advisers providing "strategic advice” or financial coaching should be subject to the same regulatory obligations as other advisers, according to the Financial Planning As...

Life/Risk

Advisers and lawyers impacted by new claims handling licensing

The Australian Securities and Investments Commission has released a new draft document outlining how financial advisers and licensees will need to seek variations to thei...

SMSF

Unlicensed SMSF business ordered to windup

The Federal Court has ordered Secure Investments and Aqulia Group to wind up after it found Secure Investments and its director Mudasir Naseeruddin had breached the Corpo...

Financial planning

Instos still lead the way in adviser departures

Large institutions have posted the highest adviser losses year to date, with five of the biggest licensees accounting for net losses of more than 800 advisers. ...

Policy & Regulation

ASIC outlines expectations for debt capital markets

The corporate regulator has released its report on market practices in debt capital markets and outlined its expectations for Australian financial service licensees. ...

Policy & Regulation

ASIC cancels Union Standard ASFL

The corporate regulator has cancelled the Australian financial services licence of over-the-counter derivatives issuer Union Standard International Group....

Policy & Regulation

First litigation funding AFSL issued

Barely weeks after the new litigation funding licensing regime became law, one of the biggest funders has obtained its Australian Financial Services License. ...

Policy & Regulation

Treasury instructs ASIC not to answer questions on litigation funding

Key correspondence between the Australian Securities and Investments Commission and Treasury over making class action litigation funding subject to an Australian Financia...

Financial planning

ASIC obtains injunctions against SMSF scam

The corporate regulator has obtained interim orders against PW Kitt Co and sole director Larry Dawson for a fraudulent SMSF advisory business. ...