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Showing 51 - 60 of 118 results for "Financial product advice"

Former Spectrum Wealth, NAB advisers banned

ELIZA BAVIN  |  THURSDAY, 30 APR 2020
... clients, rather than providing financial advice. However, the regulator alleged Myers gave her clients financial product advice recommending they establish SMSFs and roll over their existing superannuation into SMSFs. "In doing so, she did not act in ...

ASIC claims to support robo-advice

ELIZABETH MCARTHUR  |  FRIDAY, 10 JAN 2020
... that the client understands the scope of the advice they are receiving. "Natural persons who provide financial product advice to retail clients are required to meet the minimum training and competence standards for advisers in Australia," ASIC then said. ...

Former NAB, Infocus advisers banned

ALLY SELBY  |  MONDAY, 2 DEC 2019
... Planners. ASIC found that Chapman "failed to gather relevant client information when providing personal financial product advice, including assessments of products that might achieve clients' objectives and needs." The regulator also found that the South ...

ASIC calls out accountants

ELIZA BAVIN  |  TUESDAY, 5 NOV 2019
... the regulator said. ASIC said there are a range of exemptions which still allow accountants to provide financial product advice that is incidental to their services without holding an AFS license, including exemptions for tax advice and for advice about ...

ASIC wins appeal against Westpac companies

KANIKA SOOD  |  MONDAY, 28 OCT 2019
... outcome. It decided that ASIC had failed to demonstrate that the two Westpac companies had provided personal financial product advice to 15 customers in regards to the consolidation of superannuation accounts. However, the judge added the Westpac subsidiaries ...

Financial advice exit a boon for the industry: Poll

KARREN VERGARA  |  MONDAY, 8 APR 2019
... by separating AFSL holders authorised to issue financial products and AFSL holders authorised to give financial product advice. The new poll asks: What was the highlight of the 2019-20 Budget?

Major advice licensee in possible best interest breach

JAMIE WILLIAMSON  |  THURSDAY, 4 APR 2019
... supervision arrangements in place to ensure those representatives comply with the law when providing financial product advice to consumers. "It is essential that AFS licensees' resources remain adequate, especially during periods of strong growth ...

Hayne stops short of dismantling vertical integration

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... by separating AFSL holders authorised to issue financial products and AFSL holders authorised to give financial product advice. He also noted that in addition to the protestations of the big banks (including those who had already moved on significant ...

ASIC cracks down on non-compliant AFSL

JAMIE WILLIAMSON  |  MONDAY, 21 JAN 2019
... supervision arrangements in place to ensure that their representatives comply with the law when providing financial product advice to consumers," the regulator said. "In particular, ASIC expects advice licensees to have robust audit processes in place. ...

AFSL to begin independent review

DARREN SNYDER  |  WEDNESDAY, 16 JAN 2019
... independent expert formed part of additional conditions imposed on the AFSL. Kaz Capital provides general financial product advice on certain deposit and payment products, derivatives, securities and managed investment schemes. "As a result of ASIC's ...