ASIC Suspends AFS Licence of Cartesian Corporate Finance Limited

The Australian Securities and Investment Commission (ASIC) announced today the suspension of Australian financial services (AFS) licence of Cartesian Corporate Finance Limited (Cartesian) until 25 August 2023.

The Australian watchdog explained that it took the action because Cartesian has ceased to carry on a financial services business. The AFS license authorises the company to deal in securities and interests in managed investment schemes and provide financial product advice for wholesale clients. Cartesian has held the license since 18 February 2004.

Besides, the regulator notes that it may cancel the licence if, by the end of the suspension period, Cartesian is not in a position to recommence its financial services business. 

This move comes after the ASIC's suspension of the AFS licence of Lendfin Private Pty Ltd​ until 1 March 2024.