The problem with licensee reporting is that they can make dodgy reports to ASIC without any real obligation to support the allegations. In the case of AMP they have been breaching advisers for confected compliance issues and then reporting them to ASIC. AMP even admitted in a QLD court recently that their audit regime was not fit for purpose when they reported one of their own advisers who had a solid compliance record. I personally think that big licensees are irrelevant to a great extent and that they should be merely service providers to self licensed advisers rather than the license holder themselves.
CAF Price at posting:
14.5¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)