The Australian Securities & Investments Commission (ASIC) has imposed additional conditions on the Australian financial services (AFS) licence of Learn To Trade Pty Ltd (LTT) after identifying repeated failures to comply with financial services laws and licence obligations, including financial reporting and notification requirements. ASIC highlighted that, for the financial years ending 31 December 2023 and 31 December 2024, LTT did not lodge its annual financial statements and audit reports within the prescribed timeframe and in accordance with its licence conditions, and noted multiple instances of late lodgement since 2012. LTT also failed to notify ASIC of the appointment of a new auditor. The additional licence condition requires LTT to appoint an independent compliance consultant to review and assess its procedures for timely lodgement of financial statements and auditor reports, and to consider its wider compliance monitoring, breach identification and breach reporting frameworks, with two reports to be provided to ASIC to inform whether further regulatory action may be warranted.

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