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Service provider sees licence cancelled

The corporate regulator has cancelled the AFSL of wholesale service provider Dunfo Capital.

Dunfo Capital's AFSL has been cancelled because the provider failed to comply with a number of its obligations as a licensee, an ASIC-issued statement said.

"In February 2015 ASIC suspended Dunfo Capital's AFS licence for six months in order to provide Dunfo Capital with an opportunity to meet its legal obligations and licence conditions," the statement said.

However, the regulator stated that the firm failed to demonstrate compliance with these requirements and the cancellation of its licence was therefore effective from 28 August 2015.

The firm is also known as Eagle Aetos Capital and has previously been known by names including GSM Financial Group, Forbes Treasure Capital and Forbes Capital.