ASIC Shuts Down Advamode Financial and Liquidates ‎its Assets

Moderator: moderators
rank: 1000+ posts
rank: 1000+ posts
Posts: 4477
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

ASIC Shuts Down Advamode Financial and Liquidates ‎its Assets

Postby » Mon Jun 27, 2016 12:19 pm

The Australian Securities and Investment Commission (ASIC) revealed today that it has ‎cancelled the Australian financial services (AFS) licence of Queensland-based ‎Advamode Financial Pty Ltd (Advamode), according to an official agency announcement.

The regulator’s decision took effect on Monday 20 June 2016, and it was made at ‎Advamode’s request after the company was placed into liquidation on 4 May 2016.‎

Last year, ASIC imposed extra conditions on the company’s AFS licence, as the commission surveillance identified concerns ‎regarding Advamode’s ability to ensure providing financial services efficiently, ‎honestly and fairly, to demonstrate adequate financial resources were available to ‎provide financial services and carry out ... (read more)

Please add to your ad blocker white list.
Thank you for your support.

Return to “news”