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 failed to meet its financial reporting obligations for the financial years ending 30 June 2021 and 30 June 2022.

The suspension will provide Australasian Capital with an opportunity to attend to its outstanding lodgement obligations. ASIC may consider further action if Australasian has not complied with its obligations at the end of the suspension period.

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