Search Results for: ASIC
ASIC imposes new AFS licence conditions on two Commonwealth Bank
August 8th, 2014
The AFS licensees, the Australian financial services (AFS) licences of two of Commonwealth Bank of Australia (CBA)’s financial planning arms, Commonwealth Financial Planning Limited (CFPL) and Financial Wisdom Limited (FWL), have consented to new conditions. ASIC took this action after CBA ...
ASIC accepts enforceable undertaking from Adelaide-based AFS licensee
July 30th, 2014
The Australian regulator, ASIC, has today announced that it has accepted an enforceable undertaking (EU) from Adelaide-based PGW Financial Services Pty Ltd (PGW), after an ASIC surveillance found deficiencies in its advice to clients and arrangements for supervising its ...
ASIC acts on licensees failing to lodge annual statements
July 22nd, 2014
A proactive ASIC review of Australian financial services (AFS) licensees that failed to lodge audited annual statements has led to ASIC cancelling eight AFS licences. ASIC reviewed the conduct of 72 AFS licensees operating in the financial advice industry ...
ASIC permanently bans Victorian finance broker
July 10th, 2014
Australian Securities and Investments Commission (ASIC) has permanently banned Mr Rudy Noel Frugtniet, a former Victorian finance broker, from engaging in credit activities after it was found he provided misleading information and a lack of full disclosure on a ...
Macquarie drawn into Commonwealth Bank financial planning row; ASIC undertaking
July 8th, 2014
Macquarie Group’s private wealth unit has been accused of not co-operating with the Senate committee that delved into unethical financial planning practices at the Commonwealth Bank of Australia. Inquiry chairman Labor senator Mark Bishop said Macquarie had similar “systematic ...
ASIC shuts down unlicensed foreign exchange trading
July 4th, 2014
The Australian Securities and Investments Commission (ASIC) following its strict financial regulatory policy has commenced action in the NSW Supreme Court to stop Vault Market Pty Ltd and its sole director, Mr MD Anamul Amin, of Wiley Park, New South ...
ASIC suspends former Banksia auditor for five years
June 13th, 2014
The Australian Securities and Investments Commission (ASIC) has accepted an enforceable undertaking (EU) from Mr Warren John Sinnott of Kennington, Victoria, as part of an ongoing investigation into the collapse of Banksia Financial Group (Banksia Group). Under the EU, ...
ASIC obtains extension of injunction freezing bank accounts of Sino Australia Oil and Gas Limited
June 3rd, 2014
The Australian Securities and Investments Commission (ASIC) has obtained orders in the Federal Court in Melbourne extending an injunction restraining Sino Australia Oil & Gas Ltd (SAO), an ASX-listed entity, from transferring company funds from two accounts it holds ...
ASIC encourages platforms to review compliance with class orders
May 27th, 2014
The Australian Securities and Investments Commission (ASIC) is encouraging platforms to review ongoing compliance with ASIC class orders and to ensure they are ready for the changes under new class orders coming into full effect for established operators on ...
ASIC bans convicted Victorian finance broker from credit activities
May 23rd, 2014
The Australian Securities and Investments Commission (ASIC), has permanently banned Victorian finance broker, Ms Kieu Thi-Thanh Huynh, from engaging in credit activities after she was convicted of serious fraud offences. Ms Huynh has also been disqualified her from managing ...
