ASFL

Financial planning

Changes ahead for AFSLs’ breach reporting

ASIC has updated its reportable situations regime to remove the need for licensees to submit breach notifications for certain misleading or deceptive conduct breaches....

Financial planning

Why advisers aren't reporting FASEA exam results

Licensees are responsible for notifying the corporate regulator that their advisers have completed the exam, however finding whether an adviser has passed isn’t easily ac...

Financial planning

No one yet prosecuted for calling themselves 'financial adviser'

The Australian Securities and Investments Commission has prosecuted many people for operating without an Australian Financial Services License but it appears no one has b...

Policy & Regulation

ASIC warns of ‘significant escalation’ in unlicensed advice

The Australian Securities and Investments Commission has seen a “significant escalation” in complaints about unlicensed operators providing financial product advice witho...

Features

FPA's adviser registration proposal resonates but what will it cost?

Mike Taylor writes that the Financial Planning Association may well have identified a key element of the future of the financial advice industry but no one should overloo...

Editorial

Applying the brakes to the ambulance chasers

Australia’s litigation funders have, by and large, done a good job but few in the financial services industry will argue against making them rise to the requirements of h...

Policy & Regulation

Societe Generale charged by ASIC

They have been charged with breaching client money obligations from between December, 2014, and September, 2018....

People & Products

Lifespan launch new service for self-licensees

Lifespan Partnership will offer support for self-licensees and advice businesses wanting to transition to their own individual Australian financial services licence....

Policy & Regulation

QLD adviser banned for three years

GPS Wealth adviser, Mark Alexander Rothnie has been banned by ASIC for failing to act in the best interests of his clients and failing to provide appropriate advice....

Financial planning

Advisers need flexible MDAs for best interest

Advisers need to make a considered decision when using MDAs and need an offering that allows them to be flexible for the different circumstances of their clients, Xplore ...

Financial planning

Dealer fee only part of equation when choosing AFSL

Financial advisers were increasingly looking at criteria other than just the dealer when choosing an AFSL such as a robust compliance regime, and an open APL, Futuro said...

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

ASIC clarifies adviser record keeping duties

ASIC has highlighted that AFSLs must have access to financial adviser records for the required period, while representatives must also keep records....

Financial planning

ASIC cancels AFSL for Melbourne firm

ASIC has suspended the Australian financial services licence (AFSL) for Melbourne-based firm, Allegianz, for failure to lodge financial statements and auditor reports....

Accounting

Accountants warming to AFSL idea

The perceived negative consequences of acquiring a financial services licence seem to be reducing following the scrapping of the accountants’ exemption, with a dealer gro...