ASIC Cancles AFS Licence of Centurion Custodian Funds Management Ltd

The Australian Securities and Investments Commission (ASIC) announced today the withdrawal of the Australian financial services (AFS) licence of Centurion Custodian Funds Management Ltd (Centurion), with number 286801, effective from 18 January 2023.

Centurion has held the AFS license since 20 May 2005, which permits the entity to offer specified financial services, including financial product advice and dealing in interests in managed investment schemes for wholesale clients. 

The Australian regulator explained that it took this action because Centurion had not provided any financial services under the licence since it was issued.

On 20 January 2023, Centurion applied to the Administrative Appeals Tribunal (AAT) seeking a review and stay of ASIC's decision. The AAT refused the stay application on 4 May 2023 and the hearing for a substantial review of ASIC’s decision has been set for 10 July 2023.

Preciously, ASI has cancelled the AFS licences of two entities: Capital Investment Partners Pty Ltd and DGR Bloodstock Services Pty Ltd​.