ASIC cancels RE AFSL

22 March 2017
| By Malavika |
image
image
expand image

The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of Aquaint Capital Limited, which is in liquidation.

Aquaint is the responsible entity for Aquaint Income Fund (the scheme). It was placed into liquidation on 1 September 2016 following a creditors’ resolution that it should be wound up due to being insolvent. The liquidators began the winding up process on 14 September 2016.

However, under section 915H of the Corporations Act, the Australian financial services licence (AFSL) must continue in effect as though the cancellation has not happened for a period of 12 months from the date of the cancellation in order to assist with the winding up of the scheme.

The AFSL was cancelled on 28 February.

Read more about:

AUTHOR

 

Recommended for you

 

MARKET INSIGHTS

sub-bg sidebar subscription

Never miss the latest news and developments in wealth management industry

Ralph

How did the licensee not check this - they should be held to task over it. Obviously they are not making sure their sta...

23 hours ago
JOHN GILLIES

Faking exams and falsifying results..... Too stupid to comment on JG...

23 hours 47 minutes ago
PETER JOHNSTON- AIOFP

Must agree to disagree with you on this one Keith, with the Banks/Institutions largely out of advice now is the time to ...

1 day ago

AustralianSuper and Australian Retirement Trust have posted the financial results for the 2022–23 financial year for their combined 5.3 million members....

9 months 3 weeks ago

A $34 billion fund has come out on top with a 13.3 per cent return in the last 12 months, beating out mega funds like Australian Retirement Trust and Aware Super. ...

9 months 1 week ago

The verdict in the class action case against AMP Financial Planning has been delivered in the Federal Court by Justice Moshinsky....

9 months 3 weeks ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND