The Australian Securities & Investments Commission (ASIC) has suspended the Australian financial services (AFS) licence of Surety Compliance Limited until 27 October 2026 after it failed to meet minimum financial requirements and hold professional indemnity insurance. Surety is the responsible entity of the Private Investment Fund. Under the suspension terms, Surety may continue providing financial services necessary for, or incidental to, paying redemptions from and winding up the scheme. During the suspension, Surety must meet applicable obligations to maintain a dispute resolution system, be a member of the Australian Financial Complaints Authority scheme, and hold professional indemnity insurance cover. Surety may apply to the Administrative Review Tribunal to seek review of ASIC’s decision.
Australian Securities & Investments Commission 2025-11-18
Australian Securities & Investments Commission suspends Surety Compliance’s AFS licence until October 2026 while allowing wind-up and redemption services
The Australian Securities & Investments Commission (ASIC) has suspended Surety Compliance Limited's financial services licence until 27 October 2026 for non-compliance with financial requirements and lack of professional indemnity insurance. Surety can continue services related to redemptions and winding up the scheme during the suspension. Surety must maintain a dispute resolution system, be part of the Australian Financial Complaints Authority scheme, and hold professional indemnity insurance, and may seek a review of ASIC’s decision by the Administrative Review Tribunal.