ASIC Cancels AFS License of Indie Advice

The Australian Securities & Investments Commission (ASIC) today announced the cancellation of the Australian financial services (AFS) licence held by Sydney-based financial services provider Indie Advice Pty Ltd (Indie Advice), effective from 19 January 2024.

According to the regulator, the licence was canceled because Indie Advice had not been providing financial services for some time.

ASIC explained in the announcement: "Under the Corporations Act, ASIC may suspend or cancel an AFS licence if the licensee has ceased providing financial services."

Indie Advice has held AFS licence no. 511786 since 23 October 2018. It was authorized to provide financial product advice to retail and wholesale clients.

The regulator further added that the licence continues in effect until 30 June 2024 for the purpose of keeping internal and external dispute resolution schemes operating.