AFSL

Financial planning

The AAT has affirmed ASIC’s to ban Mark Menzies from providing financial services, after he had engaged in manipulation of the price of MINI Warrants commonly known as “M...

Policy & Regulation

ASIC overstepping in approving responsible managers

The Australian Securities and Investments Commission is causing headaches for Australian Financial Services licensees by approving responsible managers despite there bein...

Financial planning

ASIC wraps up CBA compensation compliance checks

ASIC has released the final report on the Commonwealth Bank’s compliance with additional licence conditions that were imposed regarding advice compensation, written by Ko...

Policy & Regulation

Exclude advice obligations from insurance claims – ASFA

Insurance claims handling should not be encumbered by the same obligations as financial advice because it would risk making it unaffordable to super fund members, accordi...

Financial planning

ASIC imposes additional conditions on SMSF Advisers Network

The Australian Securities and Investment Commission has imposed additional licence conditions on SMSF Advisers Network....

Superannuation

AAT decision puts past offenders on notice

The Administrative Appeals Tribunal has upheld a decision to refuse Superannuation Warehouse’s application for a limited Australian financial services licence, after its ...

Financial planning

Futuro ends AMP link

Brisbane-based financial planning firm, Futuro Financial Services has declared an end to his long-running AMP relationship....

Policy & Regulation

Kaz Capital hit with further compliance review

ASIC has imposed additional conditions on the Australian financial services licence of Kaz Capital, following concern on the adequacy and effectiveness of the company’s c...

Policy & Regulation

ASIC cancels Financial Circle’s licence

The Australian Securities and Investments Commission has cancelled the Australian financial services licence and credit licence of Financial Circle....

Policy & Regulation

Reviewing advice verging on “Python-eseque silly walk”

The Federal Court has imposed a new obligation on Australian Financial Services licensees to ensure they take ‘reasonable steps’ to stay in line....

Policy & Regulation

Direct FX loses licence after six-month suspension

The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Direct FX Trading Pty Ltd. ...

Policy & Regulation

ASIC slaps permanent ban on JJ Global director

The investments regulator has permanently banned Vicky Bee Chin Lim, the sole director of a firm closely affiliated with Malaysia’s JJ Global Network Holdings, from provi...

Policy & Regulation

ASIC bans SMSF financial adviser

ASIC has banned Queensland financial adviser, James Cribb, from providing financial services for four years. ...

Policy & Regulation

AFSL holders need to watch their words, fintech says

Australian financial services licensees to be more careful about the wording of their own marketing materials, according to fintech YTML....

Policy & Regulation

ASIC slaps conditions on Aurora’s AFSL

The investment regulator has imposed conditions on the financial services licence of Aurora Funds Management Limited following the misappropriation of $1 million of inves...