The Australian Securities & Investments Commission (ASIC) has cancelled Ricard Securities Pty Ltd’s Australian financial services (AFS) licence, effective from 28 October 2025, citing failures to pay industry levies including an instalment for the Compensation Scheme of Last Resort and to meet statutory audit and financial reporting lodgement obligations. The cancellation terms permit Ricard to continue providing financial services until 24 December 2025 only to the extent reasonably necessary or incidental to winding up, transferring or operating any unregistered managed investment scheme for which it was trustee on 24 October 2025. During this period, Ricard must meet applicable obligations to maintain a dispute resolution system, be an Australian Financial Complaints Authority member, and hold professional indemnity insurance. Ricard may apply to the Administrative Appeals Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2025-11-04
Australian Securities & Investments Commission cancels Ricard Securities’ Australian financial services licence for unpaid levies and reporting failures
ASIC has cancelled Ricard Securities Pty Ltd’s financial services licence for non-payment of levies and failure to meet audit and reporting obligations. Ricard can provide limited services until 24 December 2025 to wind up or transfer unregistered investment schemes. Ricard may seek a review by the Administrative Appeals Tribunal.