AFSLs

Financial planning

ASIC warns licensees of use of white labelling services

ASIC is calling on licensees to review their client onboarding practices to avoid vulnerabilities associated with share sale fraud, noting particular concerns in the use ...

Financial planning

SIAA ‘fundamentally opposes’ ASIC’s naming and shaming IDR approach

The industry body has expressed its strong opposition towards ASIC’s plans of publishing reportable situations data, describing it as a “completely inappropriate use of d...

Financial planning

ASIC considers publicly unmasking AFSLs’ IDR data

ASIC is seeking to publish firm-level data on the reportable situations and internal dispute resolution regime, in hopes that advice licensees will “lift their game”....

Financial planning

ASIC slaps infringement notices on 3 AFSLs

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

Financial planning

AFSLs urged to address cyber security vulnerabilities

With ASIC suing FIIG Securities for alleged failures in its cyber security measures earlier this month, two firms have urged AFSLs to stay vigilant against ongoing cyber ...

Financial planning

ASIC unveils strategic enforcement priorities for FY25

A wide range of strategic priorities are set to fall under the corporate regulator’s enforcement spotlight in the next 12 months, including the risk management and data s...

Financial planning

M&A activity sees higher number of ceasing AFSLs

The number of ceased advice licensees this financial year is nearly four times higher than the previous period, likely driven by M&A activity among new AFSLs, writes Weal...

Financial planning

Adviser-owned, adviser-run: Godfrey Pembroke CEO on Insignia exit

Three months since Godfrey Pembroke officially exited Insignia Financial’s institutional AFSL, Money Management speaks with CEO Mark Fisher on his path to becoming an adv...

Financial planning

Which AFSLs did ASIC target in FY24?

With the 2023–24 financial year behind us, Money Management takes a look back on the financial advice licensees that were hit with enforcement action by ASIC in the past ...

Financial planning

Onus falls on boutique AFSLs to recruit new entrants

The Financial Advice Association Australia’s Anne Palmer believes new entrants can no longer rely on large advice licensees for recruitment, leaving the obligation to sma...

Financial planning

ASIC flags fast-approaching AFSL experience pathway obligations

ASIC has reminded AFSLs they have just three business days until obligations come into force to notify ASIC of an adviser accessing the experience pathway within 30 days,...

Financial planning

ASIC IDR reporting kicks in for AFSLs

Hundreds of AFSLs with retail authorisation must now report internal dispute resolution to ASIC by 29 February as the final tranche of the regime’s implementation kicks i...

Financial planning

Will advisers ever match consumer demand?

While the Quality of Advice Review is expected to positively impact financial adviser numbers, Rainmaker’s new projections underline the continuous challenge they face to...