Aggregated News From Investment Management Regulators

ASIC cancels AFS licence of MyPlanner Professional Services

Report/Flag

Please complete the required fields.



ASIC has cancelled the Australian Financial Services (AFS) licence of Queensland-based financial services provider MyPlanner Professional Services Pty Ltd (MyPlanner Professional).

MyPlanner Professional held AFS licence no. 425542 since 18 September 2012. The licence cancellation took effect on 23 June 2020.

ASIC cancelled the licence because MyPlanner Professional is no longer operating a financial services business and is in liquidation. Under the Corporations Act 2001, ASIC may suspend or cancel an AFS licence if the licensee ceases its financial services business.

Background

ASIC imposed additional conditions on MyPlanner Professional’s licence in December 2017 because ASIC was concerned that MyPlanner Professional’s representatives were providing poor financial advice and the licensee was not adequately monitoring and supervising its representatives ().

On 12 February 2020, ASIC suspended MyPlanner Professional’s licence for 10 weeks due to continued compliance concerns ().

Source link

Regulator Information

Abbreviation: ASIC
Jurisdiction: Australia

Recent Articles

SEC Approves Registration of First Security-Based Swap Data Repository; Sets the First Compliance Date for Regulation SBSR

The Securities and Exchange Commission today announced that it has approved the registration of its first security-based swap data repository (SDR).

Regulation for a different world

Speech by our CEO, Nikhil Rathi, delivered at Association of Foreign Banks – CEO Programme 2021 – The UK Regulatory Landscape Post-Brexit and Beyond.  Speaker: Nikhil...

Keynote speech by the Chairman of the FSMA at a high-level conference on sustainability reporting organized by the European Commission

On Wednesday, 6 May 2021, Jean-Paul Servais, Chairman of the FSMA and Vice Chair of IOSCO, gave a speech at a major conference of...

Credit Suisse Bonds / Suisse Capital Wealth Bonds (Clone of FCA authorised firms)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

www.myinvestmentoptions.co.uk

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

Get the latest from Regulatory.News in your inbox!

×