Business
ASIC suspends financial planning practice license for lack of PI – Money Management
News summary.
Perth-based financial advice firm, Ballast Financial Management has had its Australian Financial Services License (AFSL) suspended by the Australian Securities and Investments Commission (ASIC) for at least 10 weeks during which it can seek to obtain professional indemnity (PI) insurance.
ASIC said the Ballast AFSL had been suspended because it had ceased to carry on a financial services business because of its failure to obtain professional indemnity insurance.
The regulator said the 10-week …
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