Its clear that ASIC has resumed issuing new and newly endorsed AFSL’s over the past 2 weeks. We have become aware of at lest 4 new AFSL’s issued after literally 8-12 months of application process. Its our understanding that serious … Read More
The Australian Treasury recently announced that the Corporations Amendment (Central Clearing and Single-Sided Reporting) Regulation 2015 (Cth) (the Regulation) has now been promulgated. The Regulation will come into effect on 1 October 2015. The purpose of the Regulation is to … Read More
Well here is their version of what is happening licensing wise. 15-268MR ASIC releases second licensing activity report and announces licensing liaison meetings | ASIC – Australian Securities and Investments Commission For 1 January to 30 June 2015: ASIC assessed … Read More
A recent speech by ASIC Commissioner Price highlights the need for a culture of customer satisfaction and a strong culture of compliance. This is an edited excerpt from a speech by John Price, Commissioner, Australian Securities and Investments Commission, 21 … Read More
ASIC has today provided an overview of some compliance issues identified during its proactive surveillance of responsible entities and superannuation trustees that are also holders of an Australian financial services (AFS) licence. On the 15th of September 2015, ASIC Commissioner … Read More
ASIC has cancelled the Australian credit licence of Smithson & Baye Pty Ltd (Smithson & Baye) (ACN 161 713 159), a credit provider based in Brisbane and Paradise Point, Queensland. ASIC found that: Smithson & Baye had contravened its obligations … Read More
A joint agency investigation involving the WA Police Organised Crime Squad, AUSTRAC and Australian Crime Commission (ACC) through the Eligo National Task Force has resulted in charges related to international money transfers and the suspension of a money transfer business. … Read More
Alleged long term crooks, “the Irish Boys” formally Apple Investments and authorised by disgraced and former AFSL Holder, Mark Power Financial, got exactly what many victims have been waiting for. A visit to jail !!! FOUR Gold Coast men will appear in … Read More
ASIC has commenced proceedings in the Federal Court of Australia against companies associated with Jamie McIntyre and the 21st Century Group in relation to their promotion and sale of interests to investors in five land banking schemes. ASIC alleges that … Read More
ASIC has again acted against companies for misleading advertising. ASIC has issued infringement notices on Australian Property Alliance Pty Ltd (APA) and imposed new licence conditions on the Australian credit licence of Wealth WA Pty Ltd (WWA), which provided financial … Read More
