ASIC Revokes AFS License of Remi Investment Services

The Australian Securities & Investments Commission (ASIC) today announced the cancellation of the Australian financial services (AFS) license held by Remi Investment Services Pty Ltd (RIS), effective from November 27, 2023.

According to the regulator, the license was canceled because RIS is no longer carrying on a financial services business.

ASIC explained in the announcement: "Under the Corporations Act, ASIC may cancel an AFS license held by a body corporate if it ceases to carry on a financial services business under s915B."

RIS held AFS licence number 234703 since 31 October 2003. Before it ceased to carry on a financial services business, RIS authorized Remi Capital Pty Ltd (Remi) to provide financial services. Remi was wound up by order of the Supreme Court of Queensland on 9 June 2022 and is currently under external administration.