The Australian Securities & Investment Commission (ASIC) cancelled the Australian financial services (AFS) licences of three companies: FS Securities, Your Super Life and ACN.
ASIC cancelled the licence of FS Securities (Qld) Pty Ltd effective 5 March for failure to comply with financial services laws and the conditions.
The company failed to meet the requirements of the licence and did not submit its annual financial reports and auditor reports for the financial years ending 2018 and 2019.
The licence of Your Super Life Pty Ltd was also cancelled from 11 March as the company failed to submit its annual report for the financial years ending 2017, 2018 and 2019.
AFS licences require annual submission of a financial report. These reports aim to prove that the companies have the resources to provide financial services.
The AFS licence of Gold Coast-based ACN 140 520 225 Pty Ltd was also cancelled, effective 17 March. The company was previously known as MyPlanner Australia Pty Ltd before changing its name in February 2017 to MyPlanner Professional Services.
The company was also appointed external administration and a liquidator was appointed in November last year.
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