The Australian Securities & Investments Commission has cancelled the Australian financial services licence of Australian Fiduciaries Limited, which is in liquidation, after the Compensation Scheme of Last Resort paid AUD 150,000 on an Australian Financial Complaints Authority determination that the firm failed to satisfy. AFCA made the determination on 30 January 2026, the CSLR paid compensation on 12 June 2026 and notified ASIC, and ASIC cancelled the licence on 2 July 2026. Under the regime, ASIC must cancel a licence in these circumstances, and the cancellation is not subject to discretion or merits review. ASIC also required Australian Fiduciaries to maintain AFCA membership for a further 12 months, until 19 June 2027, so complaints can still be lodged. AFCA has advised that, because the firm is in liquidation, it will only consider complaints that fall within the CSLR's scope, such as those relating to personal financial advice. ASIC said it has an ongoing investigation into Australian Fiduciaries and numerous related entities.
Australian Securities & Investments Commission2026-07-17
Australian Securities & Investments Commission cancels Australian Fiduciaries licence after CSLR paid AUD 150000 on unpaid AFCA determination
The Australian Securities & Investments Commission cancelled Australian Fiduciaries' Australian financial services licence after the Compensation Scheme of Last Resort paid AUD 150,000 on an unpaid AFCA determination. ASIC said the cancellation was mandatory once the CSLR made the payment, and it has kept the firm in AFCA membership until 19 June 2027 so eligible complaints can still be lodged.