ASIC Revokes AFS Licence of Endeavour Securities

The Australian Securities and Investments Commission (ASIC) today has canceled Australian financial services licence of Endeavour Securities (Australia) Ltd (In Liquidation).

Endeavour has held AFS licence no. 224972 since 11 February 2003. The license authorize the company to deal in interests in managed investment schemes and operate managed investment schemes for wholesale and retail clients.

According to the announcement, the license was canceled because Endeavour is insolvent, under administration and is being wound up.

The regulator explained that it may suspend or cancel an AFS licence without a hearing if the licensee is under administration or is being wound up.

Endeavour was the responsible entity of a registered managed investment scheme called the Investport Income Opportunity Fund. Linchpin operated an unregistered managed investment scheme, which was also called the Investport Income Opportunity Fund. Endeavour and both of the funds were placed into liquidation in 2019 after ASIC action (19-065MR).