The Australian Securities and Investments Commission revoked Ricard Securities' financial services license for failing to fulfill regulatory obligations.

The Australian Securities and Investments Commission (ASIC) announced that it has decided to revoke the Australian Financial Services (AFS) license of Ricard Securities Pty Ltd, with the revocation taking effect on October 28, 2025.

According to ASIC's statement, Ricard Securities failed to pay industry levies and installments for the 'Compensation Scheme of Last Resort' as required, and also failed to fulfill its statutory audit and financial reporting obligations.

According to the revocation clause, Ricard Securities may continue to engage in financial services that are 'reasonably necessary or incidental' to the daily operations of its liquidation, asset transfer, or related unregistered managed investment schemes until December 24, 2025.

During this transition period, the company must still comply with relevant regulatory requirements, including maintaining an effective client dispute resolution mechanism, retaining membership with the Australian Financial Complaints Authority (AFCA), and holding professional indemnity insurance.

Ricard Securities has the right to apply to the Administrative Appeals Tribunal in Australia for a review of ASIC's decision.

Public information shows that Ricard Securities has held an AFS license (No. 299 812) since May 5, 2006. The company also serves as a trustee or issuer for multiple investment projects, including at least eight unregistered managed investment schemes, involving Property Investment Fund, Ethical Development Fund Australia Pty Ltd, Mortgage Income Fund, Equity Income Fund, Baron Monthly Income Limited, Ricard Securities Property Fund, Investment Fund No. 1, JPFM Unit Trust-01, and Australian Commercial Mortgage Fund Pty Limited.