ASIC chases licensees for adviser info
ASIC has issued a reminder of AFSLs who haven't yet updated the Financial Advisers Register (FAR) with new information required following the professional standards reforms.
Licensees need to provide said data by 1 January 2020, and ASIC noted its offices are closed between Christmas eve and the end of the year. "We encourage all AFS licensees to do their reporting as soon as possible in case ASIC assistance is required," ASIC said.
New information can be provided here.
Listed advice group appoints director
Centrepoint Alliance has appointed Alexander Beard as an independent non-executive director. Beard was previously CEO of CVC Limited and is also a non-executive director at Probiotec, Eildon Capital and TasFoods.
In welcoming Beard, Centrepoint chair Alan Fisher said: “Sandy brings extensive experience in delivering value to shareholders across a broad spectrum of industries and stages of company growth. We are very pleased to have Sandy join our board.”
Industry funding model leads to AFSL cancellations
In ASIC’s overview of licensing and professional registration applications for the 12 months from July 2018 to June 2019, the regulator said it had fallen short of its performance standard for the number of new AFSLs finalised within 240 days.
ASIC attributed this to a “need to finalise an atypically large volume of cancellation applications as a result of the introduction of the industry-based funding model.”
Over the period, 86% of applications were finalised within 240 days, down from 88% in the previous year.
The opinions expressed in this content are those of the author shown, and do not necessarily represent those of No More Practice Education Pty Ltd or its related entities. All content is intended for a professional financial adviser audience only and does not constitute financial advice. To view our full terms and conditions, click here
When navigating the new advice landscape, learning to say no will be jus....
19 December, 2019
19 December, 2019
When navigating the new advice landscape, learning to say no will be just as important as what you agree to.
17 December, 2019
A banned adviser speaks out.