ASIC cancels AFS licence for Sydney firm
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of Sydney-based firm, Grey Oak Services for failing to lodge its financial statements and auditor’s reports.
According to ASIC, the company did not lodge the reports for the 2013, 2014, 2015 and 2016 financial years.
The cancellation of Grey Oak Services’ AFS licence was part of ASIC’s ongoing efforts to improve standards across the industry.
ASIC said that Grey Oak Services obtained its licence in January 2013 and since then the company had failed to lodge the respective reports.
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