The Australian Securities & Investment Commission (ASIC) announced cancelling the Australian financial services (AFS) of Western Australia-based financial services provider, Personal Risk Management Pty Ltd (Personal Risk Management) from 21 May 2020.
The Australian regulator found that Personal Risk Management failed to lodge its audited financial accounts for the financial years in 2017, 2018 and 2019.
ASIC also cancelled the AFS licence of Melbourne-based financial services provider and responsible entity Australian Golden Securities Ltd (formerly AFS Capital Securities Ltd) effective 21 May 2020.
The Australian watchdog discovered that Australian Golden Securities did not lodge its financial and audit reports and failed to address its short comings in maintaining adequate competence and capacity to provide the financial services.
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