Financial Options’ AFS licence suspended until February 2020


asic afs license

Australian regulator announced earlier this week that it has suspended the Australian financial services (AFS) licence of Queensland-based financial services provider Financial Options Pty Ltd.

The licence is suspended until 26 February 2020. According to the regulator, Financial Options was not meeting its obligations as an AFS licensee.

The company has failed to have a dispute resolution system in place. Financial Options also didn’t maintain organisational competence to provide the financial services covered by its licence.

During the suspension period, the company will be allowed to lodge its outstanding financial reports and do all things necessary to address ASIC’s outstanding concerns in relation to financial reporting obligations, organisational competence, human resources and compliance requirements.

Financial Options has held AFS licence no. 246287 since 1 March 2004.

The official announcement can be seen here.

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Financial Options' AFS licence suspended until February 2020

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