Licence cancelled for Qld firm
Queensland-based financial services firm Fentborough has seen its Australian financial services licence (AFSL) cancelled for failing to lodge documentation.
The Australian Securities and Investments Commission (ASIC) said the firm had failed to lodge its annual accounts and compliance certificates for the financial years ending June 2019 and June 2020.
It also failed to maintain membership with the Australian Financial Complaints Authority (AFCA).
These three factors were all legal obligations required to hold an AFSL under the Corporations Act.
The firm, which had held an AFSL since May 2016, was no longer operating as a financial services business or did not intend to do so in the foreseeable future.
It could apply to the Administrative Appeals Tribunal (AAT) for a review of ASIC’s decision.
AUTHOR
Laura Dew
Recommended for you
ASIC has released the results of the latest financial adviser exam, held in November 2025.
Winners have been announced for this year's ifa Excellence Awards, hosted by Money Management's sister brand ifa.
Adviser exits have reported their biggest loss since June this week, according to Padua Wealth Data, kicking off what is set to be a difficult December for the industry.
Financial advisers often find themselves taking on the dual role of adviser and business owner but a managing director has suggested this leads only to subpar outcomes.
