ASIC has cancelled the Australian financial services (AFS) licence of APBG Capital Pty Ltd (APBG Capital).

The license authorised APBG Capital to deal in interests in managed investment schemes and provide general financial advice to wholesale clients.

ASIC cancelled the license because APBG Capital has ceased to carry on a financial services business.

APBG Capital may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.