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 has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.