In a statement, ASIC said it had cancelled the licence of NSW financial services provider Tailormade Financial Strategies.
The firm, which had been licensed to provide advice and deal in financial products since October 2014, had its licence cancelled on 9 April.
ASIC said the licence had been cancelled as the firm was in liquidation.
However, the regulator said the firm would remain a member of AFCA for a minimum of 12 months and would need to hold adequate PI cover.
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How does a liquidated company retain AFCA membership and PI insurance. I imagine the receivers acting for creditors might have a view about this. What planet are you from ASIC, it sure can’t be third rock out?
I don’t usually mind the “ASIC action” articles but this one is surely the fluff of all fluff.
Agree – a time waster.
What a nothing headline and story.
I’m just glad it’s not about me…