The additional licence conditions imposed on Pershing Securities Australia Pty Ltd (PSAL) in December 2019 have been removed as of 14 December 2020.
These conditions required PSAL to appoint an independent expert to conduct a review to assess and report on whether PSAL has the current and ongoing ability to comply with the client money requirements of the Corporations Act 2001 (the Act) (MR 19-344).
PSAL has fulfilled the requirements, including the obligation to provide attestations from a Senior Executive and non-executive board member to ASIC.
ASIC has today published a summary of the independent expert’s final report provided to ASIC under the conditions.
