The Australian Securities & Investments Commission has suspended Beacon Wealth Pty Ltd’s Australian financial services (AFS) licence, preventing it from providing financial services until 7 April 2026, after finding the licensee had ceased carrying on a financial services business. Ownership and control changed in June 2024 when the directors were replaced and 100 per cent of the shares were sold to a new owner; ASIC found the business had not carried on a financial services business since then and that the licence’s responsible managers and key person no longer had any involvement with the licensee. The suspended licence (number 239 946) was issued in 2003 and was previously known as CCZ Statton Pty Ltd, CCZ Statton Equities Pty Ltd and CCZ Equities Australia Pty Ltd. Beacon Wealth has indicated it wishes to commence a financial services business under the AFS licence, but will need to obtain ASIC approvals to do so.
Australian Securities & Investments Commission 2025-04-14
Australian Securities & Investments Commission suspends Beacon Wealth’s AFS licence until 7 April 2026 after ownership change and cessation of business
The Australian Securities & Investments Commission (ASIC) has suspended Beacon Wealth Pty Ltd’s Australian financial services licence until April 2026, citing cessation of business operations. Ownership changes in June 2024 led to the replacement of directors and a complete share transfer, with responsible managers no longer involved. Beacon Wealth, formerly known as CCZ Statton Pty Ltd, intends to resume services but requires ASIC approval.