RVM Capital held the AFSL no. 457140. The licence cancellation was effective from 21 January 2020.
The cancellation of RVM’s AFSL is part of ASIC’s ongoing efforts to improve standards across the financial services industry.
Licensees must have the financial resources to provide the services covered by their licence and to conduct their business lawfully. They must demonstrate this by lodging their financial statements and auditor’s reports annually.
RVM Capital was licensed to provide financial product advice for securities and acquire securities for retail and wholesale clients.
Boof heads!!
For future reference, ‘boofhead’, a noun, is one word not two according to the dictionary references I have checked. The plural being boofheads.
In this case above, only one boofhead was involved apparently and also this noun as a descriptor seems apt.
These “licence cancelled!!” press releases seem to occur quite frequently in relation to not lodging statements or audit reports. But one wonders if the businesses involved simply stopped operating some time ago, and haven’t tied up the admin loose ends. Does anyone know if RVM Capital was still providing financial services just prior to their licence cancellation?
Hilarious. This person missed lodging for two years and got pinged on the third year? Really? Now you have cancelled the AFSL? No rush there.
I did some research. This AFSL looks like a one man show, an ex Broker, RVM being his initials.
Ok, ASIC – so enough with the little fish. Now go and get NULIS and RI Advice (Doyle)!!!!!!
3 chances…probably one two many . they are not taken it seriously…well before then.