ASIC suspends AFS licence of Celtic Equities Management

On 19 October 2023, ASIC suspended the Australian Financial Services (AFS) licence of financial services provider, Celtic Equities Management Pty Ltd for six months.

ASIC surveillance found Celtic Equities Management failed to:

lodge its financial statements and audit report for the financial years ended 30 June 2017 to 30 June 2022;
pay its outstanding ASIC Industry Funding Levies; and
pay outstanding late payment penalties.
ASIC suspended Celtic Equities Management’s AFS licence to give the provider the opportunity to take the necessary steps to demonstrate it could meet its outstanding compliance obligations.

If by the end of the suspension period Celtic Equities Management has not complied with the outstanding compliance obligations, ASIC will consider cancelling the licence.

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