York Capital to be wound up



The corporate regulator has obtained orders to wind up York Capital Limited – a company once reported to have been taken over by former Fincorp director Graeme Byers.
The Australian Securities and Investments Commission (ASIC) established the company failed to lodge its financial reports and hold annual general meetings for the past three years.
The Federal Court of Australia ordered that York be wound up and appointed Paul Burness as liquidator.
ASIC’s investigation also found York Capital failed to appoint the statutory minimum of three directors and comply with a court order dated 9 June 2009 which required financial accounts be lodged with ASIC within 28 days.
Recommended for you
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
Australian licensees are expected to make greater use of custom model portfolios for their clients, according to State Street Investment Management, following in the footsteps of US peers.
Adviser Ratings has argued that it’s time for more advisers to utilise digital engagement tools available to them as a disconnect grows between consumers seeking advice from finfluencers and from professionals.