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ASIC accuses Kalkine of providing unlicensed advice
Financial Standard
|June 02, 2025
ASIC has told Kalkine it must appoint an independent compliance consultant to address concerns its customer service representatives have been giving unlicensed advice.
Kalkine is an equity research house which produces stock analysis and buy, hold and sell reports via a subscription service for retail investors. It operates in Australia, Canada, the UK and US.
ASIC has imposed new licence conditions on Kalkine's Australian financial services licence (AFSL) to ensure compliance with its obligations as an AFS licensee.
"These conditions require Kalkine to engage a consultant to review, assess and report to ASIC whether Kalkine's interactions with its customers are compliant and its supervision mechanisms are adequate," ASIC said.
This story is from the June 02, 2025 edition of Financial Standard.
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