ASIC cancels licence of Australian Fiduciaries Limited

The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Australian Fiduciaries Limited following a compensation payment by the Compensation Scheme of Last Resort. On 30 January 2026, the Australian Financial Complaints Authority issued a determination against Australian Fiduciaries, which the firm failed to pay. The CSLR then made a $150,000 payment in respect of that determination on 12 June 2026 and notified ASIC, prompting the regulator to cancel the licence on 2 July 2026.

Under the law, ASIC must revoke the licence when a licensee does not comply with an AFCA determination and the CSLR steps in. The cancellation is mandatory and not subject to discretion or merits review. ASIC has ordered Australian Fiduciaries to maintain its AFCA membership for a further 12 months until 19 June 2027, allowing complaints to still be lodged with AFCA. AFCA noted that because Australian Fiduciaries is now in liquidation, it will only consider complaints that fall within the scope of the CSLR, such as those related to personal financial advice. 

Australian Fiduciaries, based in Queensland, held AFS licence number 465658 and served as the responsible entity for three registered managed investment schemes: the Global Diversified Alpha Fund, the Global Multi-Strategy Fund, and the Global All Seasons Fund.