Sydney-based Marigold Falconer International Limited has been unable to satisfy Australian Securities and Investment Commission (ASIC) laws on insurance cover, and has had its financial services license revoked.
This is the second time Marigold has had its license withdrawn, following an issue earlier in the year where it was unable to provide evidence to ASIC that it would be able to obtain professional indemnity insurance for a license variation it aimed to operate with.
ASIC also took action in the Federal Court against the authorised representative of Marigold Falconer, Ostrava Equities Pty Ltd in 2015.
