ASIC Revokes AFS License of Valorton Capital Pty Ltd
Source: Gin
The Australian Securities & Investments Commission (ASIC) today announced the cancellation of the Australian financial services (AFS) licence held by Valorton Capital Pty Ltd (Valorton), effective on 14 February 2024.
According to the regulator, the licence was cancelled because Valorton had not provided any financial services since the licence was granted on 27 October 2022.
ASIC explained in the announcement: "Under subsection 915B(3A) of the Corporations Act, ASIC may cancel an AFS licence held by a body corporate if it does not provide a financial service covered by the licence before the end of six months after the licence is granted."
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