ASIC Suspends AFS License of Aurora Funds Management Limited

The Australian Securities and Investments Commission (ASIC) today announced that it has suspended the Australian financial services (AFS) licence of Aurora Funds Management Limited (Aurora) until September 20, 2024.

Aurora has held an AFS license with number 222110 since September 2, 2002. In the announcement, ASIC's investigation revealed that Aurora failed to fulfill its statutory audit and financial reporting lodgement obligations for the financial years ending in 2022 and 2023.

This licence suspension prohibits Aurora from providing financial services, including issuing new interests in the Schemes. However, to safeguard the interests of Scheme investors, ASIC has allowed Aurora to continue offering financial services that are reasonably necessary for the day-to-day operation of the Schemes.

ASIC has also mentioned that the suspension may be lifted earlier if Aurora complies with its audit and financial reporting obligations. If Aurora fails to meet these obligations by the end of the suspension period, the Australian regulator may consider taking further action.