ASIC cancels AFS licence of Guarded Pty Ltd and BBY Ltd

asic afs license

The Australian regulator ASIC announced today that it has cancelled the Australian financial services (AFS) licence of Sydney-based Guarded Pty Ltd for failure to comply with financial services laws, effective from 27 May 2019.

Guarded failed to maintain competence to provide the financial services authorised by its licence after its responsible manager, who had been appointed as a key person, resigned. It also failed to notify ASIC or put forward a suitable replacement.

The regulator has also extended the suspension of the AFS licence held by BBY Limited (BBY) until 28 May 2020 effective 27 May 2019.

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