ASIC Cancels AFS Licence of Fentborough Pty Ltd

The Australian Securities & Investments Commission (ASIC) today announces the cancellation of the Australian Financial Services (AFS) licence of Fentborough Pty Ltd (Fentborough), a financial services provider based in QLD.

According to the official press release, the decision comes after the Australian regulator found that Fentborough failed to lodge its annual accounts and compliance certificates for the financial years ended 30 June 2019 and 30 June 2020 and failed to maintain membership with the Australian Financial Complaints Authority (AFCA).

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Fentborough was no longer carrying on a financial services business and does not intend to carry on business under the licence in the foreseeable future.

Under the Corporations Act 2001, ASIC may suspend or cancel an AFS licence if the licensee fails to meet its legal obligations, including its obligations to lodge financial statements and auditor’s reports annually and hold membership of a dispute resolution system.

Fentborough held a AFS limited licence 483519 since 13 May 2016. Fentborough may apply to the Administrative Appeals Tribunal (AAT) for a review of ASIC’s decision.