'General advice' provider gets AFSL suspension

In a statement yesterday, ASIC announced Divitiarum Audax Pty Ltd has had its license suspended 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 said.

Divitiarum Audax provides "general financial product advice" and has held its AFSL since February 2004, the statement said.

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.

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.”