ACP Advisory’s Post

ASIC Non-cash Payment, Fund, Securities License AFSL #133 For Sale   1. This licence authorises the licensee to carry on a financial services business to: (a) provide general financial product advice for the following classes of financial products: (i) deposit and payment products including: (A) basic deposit products; (B) deposit products other than basic deposit products; and (C) non-cash payment products; (ii) general insurance products; (iii) interests in managed investment schemes including: (A) investor directed portfolio services; and (iv) securities; and   (b) deal in a financial product by: (i) issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products: (A) deposit and payment products limited to: (1) non-cash payment products; and (ii) applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products: (A) deposit and payment products including: (1) basic deposit products; (2) deposit products other than basic deposit products; and (3) non-cash payment products; (B) general insurance products; (C) interests in managed investment schemes including: (1) investor directed portfolio services; and (D) securities; to retail and wholesale clients.   2 RM can stay Australian bank accounts No complaints No activity and clients For more information, please contact info@acpadvisory.com https://lnkd.in/gCAa4zEi #afslforsale #afsl #noncashpayment #australia #financialservices #financiallicense #fundlicense #managedinvestmentscheme #securities

ASIC Wholesale Fund, Securities, Custodial License AFSL #130 For Sale   1. This licence authorises the licensee to carry on a financial services business to: provide general financial product advice only, for the following classes of financial products: (i) interests in managed investment schemes excluding investor directed portfolio services; and (ii) securities;   2. deal in a financial product by: (i) issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products: A. interests in managed investment schemes excluding investor directed portfolio services; and B. securities; and (ii) applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products: A. deposit and payment products limited to: 1) basic deposit products; 2) deposit products other than basic deposit products; B. general insurance products; C. interests in managed investment schemes excluding investor directed portfolio services; and D. securities; and   3. provide the following custodial or depository services: (i) operate custodial or depository services other than investor directed portfolio services;   to wholesale clients.   3 RM can stay For more information, please contact info@acpadvisory.com https://lnkd.in/gN2wJG_F #AFSL #Australia #financiallicense #financialservices #AFSLforsale #securities #fund #managedinvestmentscheme #insurance

SEBI: PENALISES BERKELEY SECURITIES FOR MISUSING CLIENT FUNDS, ERRORS IN STOCK RECONCILIATION SEBI imposes a penalty of Rs. 9 lakh on Berkeley Securities Ltd. (Noticee/Company) for multiple regulatory violations, inter alia including misuse of credit balance client funds, giving loans to related parties, engaging in businesses other than securities and also multiple discrepancies related to stock reconciliation, net-worth verification, cyber-security and apparent errors in reporting & short collection of Margins, thereby violating various provisions of the Securities Contracts (Regulation) Act, 1956, SCR Rules, SEBI Act, Stock Broker Regulations and Certification Regulations; Highlighting various other infractions across Berkeley operations such as discrepancies in updating bank account names and lapses in client registration process, SEBI elaborates that each violation potentially breached SEBI regulations and circulars, adds that, “Noticee being a SEBI registered Stock Broker was required to comply with the applicable provisions of securities law, which it failed to and which SEBI is duty bound to enforce compliance of. Such non-compliance accordingly needs to be dealt with suitably.”; Elucidating serious breaches in fund segregation requirements such as using these funds for debit balance client obligations and personal use, which is contrary to Sec. 23D of the SCR Act, SEBI points out that the average misutilised amount was Rs. 62.71 lakh and the misused amount per instance was also significant, ranging from Rs. 1.97 lakh to Rs. 81.83 lakh, and states that the Noticee’s responses were inadequate for its accounts, confirming the violations and administrative deficiencies; Regulator notes that the Noticee failed to adhere to SEBI guidelines for naming bank accounts correctly and it also delayed fund settlements for both active and inactive clients, whereas the proven discrepancies in ledger balances, margin amounts and failure to issue retention statements further compounded the violations under the Securities Contracts Regulation Act; Lastly, SEBI identifies apparent breaches of prescribed settlement timelines and client statement obligations, and thereby rejects Noticee’s defence citing system errors, delays in client fund transfers and incomplete documentation, and accordingly concludes that, “It has been established that Noticee had violated stated provisions of SCR Act, Stock Broker Regulations, Certification Regulations, SCR Rules and SEBI Circulars…I hereby impose a penalty of Rs. Nine Lakh on the Noticee.”:SEBI MUM The order was passed by Mr. Amar Navlani (Adjudicating Officer).

LCS0006 / Type 4 & 9 / HK$2.4M + NAV(~HK$2.4M) / Insurance + securities dual license company for sale Seize this golden opportunity to acquire a prestigious Hong Kong SFC Type 4 and Type 9 licensed corporation! 🔑 Key Highlights: Dual SFC licenses: Type 4 (Advising on Securities) & Type 9 (Asset Management. The type 9 licensee shall not provide a service of managing a portfolio of futures contracts for another person and conduct business involving the discretionary management of any collective investment scheme.) Exceptional compliance record – No disciplinary actions or legal disputes Established clientele: Financial services for Hong Kong ex-pats Steady monthly income: HK$80,000/month Reasonable expenses: HK$25,000/month + IFA comms Bonus: Insurance broker license included! 💰 Attractive Pricing: Selling price: HK$2.4M + Net Asset Value (Around HK$2.4M) Paid-up capital available 🏢 Business Structure: Belize-incorporated company 2 Responsible Officers (negotiable retention) Clear ownership: 100% held by a natural person 🚀 Growth Potential: Expandable client base Dual-license advantage in financial services Don’t miss this chance to own a turnkey financial services company in Asia’s premier financial hub! Contact us now for more details. 📩 For more information or to engage the seller, please WhatsApp 93472064. Paradox Management Limited represents the seller, and the price shown includes Paradox commissions. Please note: The above details are only for reference and may differ from those of the company. Please treat them with caution.

Administrative Actions against Mitsubishi UFJ Morgan Stanley Securities, Morgan Stanley MUFG Securities and MUFG Bank As a result of conducting an on-site inspection of MUMSS, MSMS and MUBK, the Securities and Exchange Surveillance Commission made a recommendation for taking an administrative action on June 14, 2024, based on the findings of the following violations of laws and regulations: 🔹 The Financial Instruments and Exchange Act (hereinafter “FIEA”) prohibits a Financial Instruments Business Operator from providing and/or receiving non-public client information among financial firms within the group, without the consent of clients. Nevertheless, the above three firms repeatedly shared non-public client information, knowing that their clients asked not to share their information with other firms within the group, and some of the information contained material information that would impact investment decisions. These findings led to the conclusion that the three firms had deficiencies in internal control environment for the management of information. (The SESC also found that one employee of MUBK had engaged in unfair trading in violation of the FIEA due to these deficiencies.) 🔹 Furthermore, the FIEA prohibits a Financial Instruments Business Operator from soliciting the financial instruments transaction contract by using non-public information without the consent of their clients. The SESC found, however, that a board member of MUMSS had received confidential information of their clients from an executive officer of MUBK, and MUMSS, together with MSMS, used the information for solicitation of offer to sell financial instruments to their clients. 🔹 Lastly, the FIEA prohibits a bank from conducting Securities-Related Business (underwriting business). Nevertheless, MUBK repeatedly negotiated for the underwriting shares on behalf of MUMSS. Among such cases, it was found that MUBK had engaged in a tie-in negotiation, asking for more underwriting shares of MUMSS as a condition of MUBK’s loan agreement. Read the full FSA press release (in English, no less!): https://lnkd.in/g2nyFPsD

𝐔𝐧𝐜𝐥𝐚𝐢𝐦𝐞𝐝 𝐃𝐢𝐯𝐢𝐝𝐞𝐧𝐝𝐬 & 𝐒𝐡𝐚𝐫𝐞𝐬 𝐖𝐨𝐫𝐭𝐡 𝐑𝐬 50,000 𝐂𝐫𝐨𝐫𝐞? 𝐀𝐜𝐭 𝐍𝐨𝐰 Did you know? There are 117 crore shares worth Rs 50,000 crores and dividends worth Rs 5,700 crores transferred to the Investor Education and Protection Fund (IEPF). If you haven't claimed your shares or dividends in the last seven years, they might be waiting for you in the IEPF! 𝐇𝐞𝐫𝐞'𝐬 𝐡𝐨𝐰 𝐭𝐨 𝐫𝐞𝐜𝐥𝐚𝐢𝐦 𝐲𝐨𝐮𝐫 𝐬𝐡𝐚𝐫𝐞𝐬: 1. Gather all investment details (Folio no., share certificates, etc.). 2. Update your KYC, signatures, bank & demat details with the company. 3. If share certificates are lost, get duplicates issued. 4. Once you receive the entitlement letter, file IEPF Form 5 on the MCA portal. 5. Send physical documents to the company's Nodal Officer. 6. The company will verify and approve your claim. 7. Shares will be transferred to your demat account. Need assistance? Team ASB will help you get your money back from the government coffers in the shortest possible time frame. 𝐖𝐫𝐢𝐭𝐞 𝐲𝐨𝐮𝐫 𝐩𝐞𝐫𝐬𝐨𝐧 𝐧𝐚𝐦𝐞 𝐰𝐢𝐭𝐡 𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐡𝐞𝐥𝐩 𝐲𝐨𝐮 𝐭𝐨 𝐢𝐝𝐞𝐧𝐭𝐢𝐭𝐲 𝐰𝐡𝐞𝐭𝐡𝐞𝐫 𝐡𝐞 𝐨𝐫 𝐬𝐡𝐞 𝐡𝐨𝐥𝐝 𝐚𝐧𝐲 𝐏𝐡𝐲𝐬𝐢𝐜𝐚𝐥 𝐟𝐨𝐫𝐦 𝐨𝐟 𝐬𝐡𝐚𝐫𝐞𝐬 𝐨𝐫 𝐧𝐨𝐭??? #Finance #Investments #WealthManagement #IEPF #Shares #Dividends #ClaimYourWealth #Investor

#SEBI has streamlined the recovery of shares from #IEPF by allowing shareholders to submit key documents—like PAN, KYC, and banking details—to confirm identity and start the process. Companies and RTAs now follow clear guidelines, with digital submissions ensuring security and efficiency. What could be the cases under Recovery of Shares? ✔️Transfer of Shares Post Demise of Original Shareholder ✔️Transfer of Physical Share Certificates ✔️Retrieval of Lost Share Certificates ✔️Issuance of Duplicate Shares ✔️Claiming Unclaimed Shares from IEPF ✔️Claiming Unpaid Dividend from IEPF ✔️Liaising with Registrar and Transfer Agent (RTA) for Share Transfers To know the process and easy steps,here to go: https://lnkd.in/gWAfQuTM #sharerecovery #iepf #sharecertificates #demat #rta #listed #shares #unclained #unpaid #dividends #transfer #transmissions #shareholder #wealth #assets #compliance #process #compliancecalendar

Behind a group of investment platforms serving more than one million Australian investors is Sanlam Private Wealth. I've learned it is now being probed by ASIC. Sanlam sublets its financial services licence to a string of familiar names including Stake and Pearler, allowing them to legally operate in Australia. Such arrangements now look to be at risk as the regulator goes after 'for hire' firms that can lease out their licence ad nauseam. Last week, ASIC proceedings saw Lanterne Fund Services fined $1.25 million after the federal court found it had just one full-time employee with a paper filing system supervising dozens of clients managing more than $1.65 billion, ultimately posing "significant risks to investors". ASIC's campaign on shadow licensing will likely have major implications for the many wealth businesses that continue to rely on it. #compliance #financialservices #investment #regulation https://lnkd.in/gdNksvmR

🌟 Expand Your Trade Capabilities with NNRV PARTNERS FINANCE & BROKERAGE LTD! 🌟 At NNRV PARTNERS FINANCE & BROKERAGE LTD, we go beyond the basics to offer advanced financial instruments that ensure your international trade transactions are secure and successful. Here are some of our specialized services: 🔹 Surety Bonds: Surety Bonds act as a guarantee between a principal and an obligee that the principal will perform the obligation stated in the bond. Benefits: Contract Fulfillment: Ensures the project or service will be completed as agreed. Financial Security: Protects against losses due to nonperformance or breach of contract. 🔹 Bank Guarantees (BG): A Bank Guarantee provides a safety net by ensuring the bank will cover the loss if the buyer or seller fails to meet contractual obligations. Benefits: Transaction Security: Enhances trust in large transactions. Risk Mitigation: Protects against financial defaults. 🔹 Proof of Funds (POF): Proof of Funds is a document that demonstrates a party’s financial capability to complete a transaction. Benefits: Credibility: Instills confidence in sellers and partners. Smooth Transactions: Facilitates seamless negotiation and closing of deals. 🔹 Ready, Willing, and Able (RWA) Documents: RWA documents certify that a party is prepared to proceed with a transaction under specified conditions. Benefits: Transaction Readiness: Demonstrates commitment and capacity. Negotiation Ease: Simplifies and accelerates deal-making. By leveraging these instruments, your business can secure contracts, protect against risks, and facilitate smoother international trade operations. Our team at NNRV Partners is here to provide expert guidance and tailored solutions to meet your specific needs. Why Choose NNRV Partners? Deep Industry Knowledge: Benefit from our extensive expertise. Global Network: Access a wide range of financial resources and partnerships. Tailored Solutions: Get customized support for your unique trade requirements. Contact us today to learn how we can help your business thrive in the global market. 📞 +1 514 581 2469 #NNRVPartners #Finance #TradeFinance #SuretyBonds #BankGuarantees #ProofOfFunds #RWADocuments #GlobalTrade #RiskManagement

𝐂𝐚𝐧𝐜𝐞𝐥𝐥𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐀𝐅𝐒𝐋 𝐝𝐮𝐞 𝐭𝐨 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐟𝐚𝐢𝐥𝐮𝐫𝐞𝐬 ASIC has cancelled the AFSL of Octillion Partners Pty Ltd, as this licensee: 🚫 failed to comply with financial services laws. 🚫 failed to take reasonable steps to ensure its representatives' compliance with financial services laws. 🚫 failed to do all things necessary to ensure that it provided financial serviced under its AFSL 'efficiently, honestly and fairly'. 🚫 is likely to contravene the licensee's s 912A(1) obligations. 🚫 its responsible manager is not a fit and proper person under s 913BA(1) of the Corps Act. ASIC earlier issued a permanent ban against Octillion's responsible manager and financial adviser, Shane Rose, for engaging in dishonest conduct by using client invested funds for purposes other than which they were given. This is a latest reminder that compliance failures could have serious consequences. I would have loved to know more details about the licensee's actions (or the lack of) that led to the regulator's decision, apart from Mr Rose's above-mentioned dishonest conduct. Why? ➡ So I can consider what systems and controls may have prevented a management team member like an RM from getting away with the things that Mr Rose has done. ➡ Real life examples are always helpful and powerful when running training. ➡ Details on the conduct & consequences can help obtain top management buy-in in terms of maintaining a robust compliance framework, which is much more than just having beautifully drafted policies. https://lnkd.in/ghXwEbWn