ASIC has cancelled the Australian financial services (AFS) licence of RVM Capital for not submitting its annual financial statements for three years in a row.
RVM Capital held AFS licence number 457140 and it was cancelled from 21 January 2020.
These measures are part of ASIC’s intention to raise and improve the requirements for the financial services industry. Companies should possess the financial resources to provide the services covered by their licences. Annually submitting financial statements and conducting auditor’s reports helps
Companies should be able to prove they have the financial resources to provide the services covered by their licences. They should be able to prove this with annually submitting financial statements and conducting auditor’s reports.
Failing to meet these obligations may lead to suspicion or cancellation of the licence by ASIC.
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