financial services licence

Financial planning

ASIC has wound up an unregistered managed investment scheme known as Master Fund, which extracted $3.6 million from 40 Australian investors....

Financial planning

ASIC makes changes to AFSL application process

Updated regulatory guidance for applying for an Australian financial services licence (AFSL) removes the requirement to submit paper versions of documents lodged electron...

Accounting

Treasury signals future of accountants' exemption

Treasury officials tell Senate Committee accountants will be moved into FOFA world....

Superannuation

ASIC confirms relief on superannuation advice

ASIC has confirmed the degree to which superannuation trustees can now provide non-licensed advice around super forecasts and retirement estimates....

Financial planning

Boutique financial planners raising the white flag

Compliance consultant Christina Kalantzis has seen an uptick in the number of boutique financial planners looking to 'hand back' their Australian Financial Services Licen...

Financial planning

Increased AFSL costs to fund ASIC boost

An increase in ASIC funding to aid the implementation of the FOFA reforms will be partly paid for by an increase in fees charged to AFSL holders....

Life/Risk

Insurance broker gets AFSL suspended

A Menai-based insurance broking firm has had its licence suspended for seven months following surveillance conducted by the ASIC....

Policy & Regulation

FOFA's true opportunity lies in scaled advice: John Brogden

The best way to get more Australians receiving financial advice in the near future is the introduction of scaled advice, according to the Financial Services Council chief...

Financial planning

ASIC suspends boutique AFSL

ASIC has suspended the licence of boutique advice firm Australian Performance Financial Planning for three months because the company has been put under the control of an...

Financial planning

Another Hillross practice joins Paragem

Victorian-based financial planning practice Future First has moved from under the Hillross umbrella to participate under the Paragem Australian Financial Services Licence...

Financial planning

ASIC ups disclosure for unlisted property schemes

Unlisted property schemes will be required to adhere to six new disclosure benchmarks from 1 November 2012....

Financial planning

Proposed amendments to LRBAs need clarity - MFAA

The Mortgage and Finance Association of Australia has expressed concern that the Government's proposed amendments to limited recourse borrowing arrangements (LRBAs) creat...

Financial planning

Accountants cautious on financial planning alignments

The independence of accountants who align their businesses with financial planning dealer groups could be called into question, according to RSM Bird Cameron principal Pe...

Financial planning

Paragem Dealer Services rebrands

Paragem Dealer Services will change its name to Pathway Licensee Services as part of the integration of the business with its new parent company, netwealth Group....

Financial planning

ASIC extends class order relief for litigation funding schemes

ASIC has announced it will extend the interim class order relief granted to lawyers and funders involved in legal proceeding structures as funded representative proceedin...