News & Knowledge
Articles tagged as "Unlicensed Conduct"
ClearNo AFSL – $14 million in penalties
Knowledge
10th February 2026
MARQ Trustees writes about the Full Federal Court’s decision in the BPS Financial case, in which a company was found to have issued and promoted an investment product without an AFSL and also having engaged in misleading and deceptive conduct. The judge said that the company “engaged in serious and unlawful misconduct”. The decision once again reinforces the serious consequences of acting without an AFSL.
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