ASIC Revokes AFS License of Menon & Associates Pty Ltd
Source: Gin
The Australian Securities and Investments Commission (ASIC) today has canceled Australian financial services licence of Menon & Associates Pty Ltd.
Menon & Associates Pty Ltd has held AFS licence 489148 since 27 June 2017. According to the regulator, the license was canceled because Menon & Associates Pty Ltd is no longer carrying on a financial services business.
In today's announcement, ASIC explained that it may cancel an AFS licence held by an individual if the person ceases to carry on a financial services business.
The revocation of Menon & Associates Pty Ltd's license follows last week's decision by ASIC to cancel the AFS licence held by Crown Wealth Group Pty Ltd, which had voluntarily entered administration.
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