ASIC cancels RE AFSL
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of Aquaint Capital Limited, which is in liquidation.
Aquaint is the responsible entity for Aquaint Income Fund (the scheme). It was placed into liquidation on 1 September 2016 following a creditors’ resolution that it should be wound up due to being insolvent. The liquidators began the winding up process on 14 September 2016.
However, under section 915H of the Corporations Act, the Australian financial services licence (AFSL) must continue in effect as though the cancellation has not happened for a period of 12 months from the date of the cancellation in order to assist with the winding up of the scheme.
The AFSL was cancelled on 28 February.
AUTHOR
Malavika Santhebennur
Recommended for you
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.
As high-net-worth investors look to opportunities in alternatives, Praemium has revealed that advisers who can deliver on this demand tend to have deeper relationships with their clients as they are seeking more involvement in the investment process.
As adviser-client relationships stabilise, Investment Trends’ latest report said digital hybrid advice models are key to addressing the supply-demand gap in Australia.
A Koda Capital partner and executive team member, who joined the firm from almost a decade in advice roles at AMP, has departed the wealth manager.
