The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of New South Wales-based LRA Corporate Pty Ltd, effective from 3 February 2025, after becoming aware the firm had ceased to carry on a financial services business. The cancellation was made under section 915B of the Corporations Act, which allows ASIC to suspend or cancel an AFS licence if the licensee ceases to carry on a financial services business. LRA Corporate held AFS licence number 253008 since 3 February 2004 and was authorised to deal and provide financial product advice to both retail and wholesale clients. LRA Corporate may apply to the Administrative Review Tribunal for a review of ASIC’s decision.
Australian Securities & Investments Commission 2025-02-10
Australian Securities & Investments Commission cancels LRA Corporate’s AFS licence effective 3 February 2025
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of LRA Corporate Pty Ltd, effective 3 February 2025, under section 915B of the Corporations Act, after the firm ceased operating a financial services business. LRA Corporate, holding licence number 253008 since 2004, was authorised to deal and provide financial product advice to clients. The firm may seek a review of ASIC's decision by the Administrative Review Tribunal.