Briefs: Advisers Ratings to cover brokers, Austrac shuts down remitter, AFG targets growth in person
A new online service designed to give investors a forum for rating financial planners may eventually include finance brokers in its coverage. A principal of Adviser Ratings, Angus Woods, said the focus of the service at the outset was financial planning but as the site developed it may include coverage of real estate agents, lawyers, accountants and finance brokers. Anti-money laundering and counter-terrorism financing regulator Austrac has cancelled the registration of Sydney remittance company SK Trading. Austrac said it had been alerted to SKT's activities by the Australian Federal Police. After a review of the business it was satisfied that its continued registration may involve a significant money laundering risk. The cancellation of SKT's registration follows the suspension of Bisotel Rieh's remittance registration last month, due to concerns about possible terrorism financing. Mortgage aggregator AFG has appointed Cristian Fedrigo as its national sales manager for asset finance and personal loan products. AFG said it saw asset finance and personal loans as a growth area. TTG Fintech Limited, an ASX-listed minnow, has clinched the sale of its Financial Electronic Authentication technology to BINGO, a convenience store chain in China. The FEA technology allows clearing and settlement of digital currencies and payment of commissions. TTG claims that other uses of its product include "promotion, data sourcing and labelling, and targeted marketing."