Day: August 29, 2023

ASIC has suspended the Australian financial services (AFS) licence of Australasian Capital Pty Ltd (Australasian) ACN 143 093 832 for one year, until 25 August 2024. The licence authorised Australasian to provide financial services to wholesale clients. ASIC suspended the license because Australasian has ceased to carry on a financial services business. Australasian has also …

ASIC suspends AFS licence of Australasian Capital Pty Ltd Read More »

ASIC has banned Queensland director Maree Narelle Hawcroft from controlling an entity that carries on a financial services business and performing any functions involved in the carrying on of a financial services business for one year from 14 March 2023. The ban has been stayed from 1 August 2023, subject to conditions, after Ms Hawcroft …

Banning of Queensland director for failing to meet fit and proper person requirements stayed pending appeal Read More »

After a four-week contested trial, the Federal Court has found Frank Cullity Wilson, former managing director of Quintis Limited (Quintis), did not breach his duties as director regarding disclosure of the termination of key contracts. ASIC Deputy Chair Sarah Court said, ‘ASIC pursued this case because we were concerned that information was not properly disclosed …

Court finds former Quintis director did not breach duties Read More »