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'Independent' brokers made to repay licensing fees

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Australian Broker | 06 Dec 2012, 08:00 AM Agree 0
One aggregator which is being forced to re-brand following ASIC's banning of the word "independent" in broker business names says they're being forced to pay re-licensing fees
  • SanityPrevails | 06 Dec 2012, 10:03 AM Agree 0
    Don't you just love the smell of red tape in the morning....
  • David - Melbourne | 06 Dec 2012, 10:11 AM Agree 0
    Just pay an ASIC fee to rename your company and change the registered business name - cost you around $400 and you are done ! No re-licensing required as same legal entity.
  • Greg | 06 Dec 2012, 10:33 AM Agree 0
    I agree with David. Minimal effort and cost.
  • Wiley | 06 Dec 2012, 10:45 AM Agree 0
    I wonder if ASIC will let you be an "autonomous broker"?
  • Robbie | 06 Dec 2012, 12:12 PM Agree 0
    Simple name change only. Change your your business name and it automatically flows through to your ACL or AFSL, and your licence will be re-issued. Minimal costs. Your major cost wil be your rebranding. All online lodgement. Talk to your accountants or a compliance professional. I have done this for clients many times for different reasons.
  • Positive Broker | 06 Dec 2012, 03:04 PM Agree 0
    I agree with Roberts. I don't know your business but the fact you need to rebrand at all is unfair in my opinion.
  • sidbroker | 10 Dec 2012, 10:11 AM Agree 0
    Does the left hand at ASIC have control of the right.
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