The Australian Securities and Investments Commission (ASIC) has suspended the Australian Financial Services (AFS) licence of Dixon Advisory & Superannuation Services Pty Limited, the regulator revealed today.
The licence’s suspension follows the appointment of administrators to Dixon Advisory in January. This was a result of civil penalty proceedings against the financial services provider for alleged conflicts, best interest failures and inappropriate advice in September 2020. The Aussie regulator noted that the proceedings are currently stayed.