ASIC has cancelled the Australian financial services (AFS) licence of CPG Research & Advisory Pty Ltd (CPG), effective from 7 October 2025.
The AFS licence was cancelled after:
- ASIC became aware that CPG had ceased to carry on a financial services business, and
- CPG failed to pay industry funding levies which were outstanding for over 12 months.
CPG held AFS Licence number 243361 since 28 January 2004, which authorised it to carry on a financial services business to deal in and provide financial product advice in relation to deposit and payment products, debentures, bonds, interests in managed investment schemes (excluding investor directed portfolio services), securities and superannuation to wholesale clients.
CPS has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.
Background
ASIC may suspend or cancel an AFS licence if the licensee ceases to carry on a financial services business under the Corporations Act 2001 (Corporations Act).
Further, under the Corporations Act, ASIC may suspend or cancel an AFS licence held by a body if the body:
- is liable to pay a levy imposed by the ASIC Supervisory Cost Recovery Levy Act 2017, and
- has not paid that amount (consisting of the levy, any late payment penalty and any shortfall penalty) in full at least 12 months after the due date for payment.
