The Australian Securities and Investments Commission (ASIC) has cancelled both the Australian financial services licence and Australian credit licence of Morrison Carr Financial Services.
Morrison Carr had 42 authorised representatives and seven credit representatives nationally.
Morrison Carr's sole director Dennis Cardakaris was also permanently banned from providing financial services and engaging in credit activities.
Morrison Carr has filed an application for review and a stay in the Administrative Appeals tribunal, according to ASIC.
