ASIC has cancelled the Australian financial services (AFS) licence of ABL Funds Management Pty Ltd (ABL).
The AFS licence was cancelled because ABL failed to meet statutory audit and financial reporting lodgement obligations for the financial years ending 30 June 2023, 2024 and 2025.
ABL can apply to the Administrative Review Tribunal to seek a review of ASIC's decision.
The licence cancellation is publicly recorded on ASIC's Professional Registers Search.
Background
ABL has held AFS licence number 457446 since 20 August 2014. The licence authorised ABL to provide general financial product advice, deal in financial products, and provide custodial and depository services to wholesale clients.
ASIC can suspend or cancel an AFS licence if a licensees does not meet its financial reporting and audit obligations under the Corporations Act 2001 (Cth).
