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.
Recommended for you
ASIC’s court case with Interprac is causing advisers to explore the possibility of self-licensing, according to My Dealer Services, as they observe the reputational damage it can bring to a practice.
AZ NGA has entered a strategic partnership with a Sydney advice firm with $600 million in assets under advice to support its succession plans and future growth.
With complaints on the rise and an expanded jurisdiction, the Australian Financial Complaints Authority is on the hunt for four C-suite roles, three of which are newly-created positions.
Ahead of the 1 January 2026 education deadline for advisers, ASIC has issued its ‘final warning’ to the industry, reporting that more than 2,300 relevant providers could be on their way out.
