ASIC cancels AFSL

The corporate regulator has cancelled the Australian financial services licence (AFSL) of Robert Bayntun Starky after he failed to pay an Australian Financial Complaints Authority (AFCA) determination and failed to lodge 2020 audited financial accounts.

The Australian Securities and Investments Commission (ASIC) said the financial services provider from Stanwell Tops in New South Wales also failed to maintain professional indemnity insurance cover.

The cancellation was effective from 29 April, 2021.

“Australian financial services licensees must comply with their licence conditions and have adequate resources to provide the financial services covered by their licence. ASIC may suspend or cancel an AFSL if a licensee fails to meet its obligations,” ASIC said.

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