The Australian Securities & Investments Commission has cancelled the Australian financial services (AFS) licence of securities dealer Pulse Markets Pty Ltd, effective 11 February 2026, after finding serious and sustained breaches of its general licensee obligations under section 912A of the Corporations Act 2001. The action focuses on inadequate supervision of Pulse Markets’ corporate authorised representatives, which ASIC found increased the risk of non-compliance with financial services laws and exposed clients to potential financial loss. The findings included failures to maintain competence, conduct due diligence before appointing corporate authorised representatives, monitor their websites and marketing, maintain adequate compliance and breach registers, and keep compliance manuals with accurate information on AFS licence authorisations. ASIC also cited inadequate resourcing and staffing for supervisory arrangements, failure to prepare and lodge financial statements for financial years 2024 and 2025, failure to obtain a registered company auditor opinion on compliance with licence financial conditions for those years, and non-payment of the Industry Funding Levy for the 2023-2024 financial year. Pulse Markets’ licence (AFS 220383) authorised it to provide financial product advice, deal in financial products and underwrite issues of securities for wholesale clients. Pulse Markets may apply to the Administrative Review Tribunal for a review of ASIC’s decision.

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