Key issues: Financial advice | advice provided by non-CIO member
Summary of Determination
In June 2009, the other AFSL ceased trading. The FSP acquired certain business assets of, and related parties to, the other AFSL. The FSP also began trading as [a name similar to the other AFSL] and was authorisedto provide financial services under its own AFSL number yyyyyy. TheFSP did not conduct any business under AFSL number xxxxxx and did not assume any liability for the services provided by the other AFSL.
The facts of this complaint show that the financial services provided to the consumers were not provided by the FSP and the FSP has not otherwise
assumed any responsibility or liability for the advice provided to the consumers by the other AFSL.
Follow this link for a full copy in PDF >> Determination | 28 April 2015