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Screenshot of a breaking news alert e-mail from Q2 2017
ASIC announced that has suspended the Australian financial services (AFS) licence of NSW-based Divitiarum Audax Pty Limited from 8 May 2017 for failing to lodge financial statements and auditor’s reports for a period of four years. This is in breach of both Divitiarum Audax’s legal obligations and licence conditions.
ASIC Deputy Chair Peter Kell said:
Licensees are required to lodge financial statements and auditor’s reports with ASIC to demonstrate their capacity to provide financial services.
Failure to comply with reporting obligations can be an indicator of a poor compliance culture. ASIC won’t hesitate to act against licensees who do not meet these important requirements.
ASIC has suspended Divitiarum Audax’s licence until 8 November 2017.
If Divitiarum Audax does not lodge the required documents by this date, ASIC will consider whether the licence should be cancelled.