ASIC has canceled the Australian financial services (AFS) license of Capital Capital Pty Ltd (Capital Capital).

The license authorized Capital Capital to deal in interests in managed investment schemes to wholesale clients.

ASIC canceled the license on the basis that Capital Capital had failed to meet its financial reporting obligations.

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

Background
Capital Capital has held AFS license no. 519946 since 20 January 2020.