ASIC Cancels AIMS Licence Over Compliance Breaches

The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of Auric International Markets Pty Ltd (AIMS), effective 11 August 2025.

According to ASIC, the decision followed repeated failures by AIMS to meet its obligations as a licence holder. These included not lodging financial statements, failing to comply with financial services laws, and not maintaining the organisational competence expected of an AFS licensee.

The regulator also noted that AIMS did not pay industry funding levies for over a year and neglected to update company records with ASIC regarding changes to its business addresses and officeholders. Such lapses, ASIC said, raised concerns about whether the broker could operate "efficiently, honestly and fairly," a key requirement under Australian law.

AIMS had held AFS licence number 430091 since December 2012. The authorisation allowed the company to provide financial product advice and deal in derivatives, foreign exchange contracts, debentures, and securities, but only to wholesale clients. Its operations were conducted in part through the website.

ASIC has the authority to suspend or cancel an AFS licence when a company is at risk of breaching its general obligations. AIMS now has the right to seek a review of the regulator's decision through the Administrative Review Tribunal.