The Australian Securities & Investments Commission has cancelled the Australian financial services (AFS) licence of Arrumar Private Pty Ltd after finding it failed to comply with certain licence conditions and financial services laws. The cancellation takes effect from 23 October 2025. ASIC found Arrumar was not a member of an external dispute resolution scheme and did not lodge a true and fair profit and loss statement, balance sheet and auditor’s report for the financial year ending 30 June 2024. The cancellation was made under section 915C(1) of the Corporations Act. Arrumar was licensed from 24 January 2019 and authorised to deal and provide financial product advice across a range of products, including deposit and payment products, government bonds, life products, interests in managed investment schemes, managed discretionary account services, margin lending and superannuation, to retail and wholesale clients. Arrumar has a right to apply to the Administrative Review Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2025-10-31
Australian Securities & Investments Commission cancels Arrumar Private's AFS licence for failure to meet dispute resolution and financial reporting obligations
The Australian Securities & Investments Commission (ASIC) has cancelled Arrumar Private Pty Ltd's financial services licence, effective 23 October 2025, due to non-compliance with licence conditions and financial laws. Arrumar failed to join an external dispute resolution scheme and did not submit accurate financial statements for the year ending 30 June 2024. The cancellation was executed under section 915C(1) of the Corporations Act, and Arrumar can seek a review by the Administrative Review Tribunal.