The Australian Securities & Investments Commission has cancelled the Australian financial services (AFS) licence of Perth-based Ballast Financial Management Pty Ltd, effective 20 June 2025, after becoming aware that the firm had ceased to carry on a financial services business. The cancellation was made under section 915B of the Corporations Act 2001, which allows ASIC to suspend or cancel an AFS licence where the licensee stops operating. Ballast had held AFS licence number 233180 since 9 September 2003 and was authorised to provide financial product advice to retail and wholesale clients; it may apply to the Administrative Review Tribunal for review of ASIC’s decision.
Australian Securities & Investments Commission 2025-06-30
Australian Securities & Investments Commission cancels Ballast Financial Management’s AFS licence effective 20 June 2025 after it ceased operating
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of Ballast Financial Management Pty Ltd, effective 20 June 2025, under section 915B of the Corporations Act 2001, after the firm ceased operations. Ballast, which held licence number 233180 since 2003, was authorised to provide financial product advice to retail and wholesale clients and may seek a review of ASIC's decision by the Administrative Review Tribunal.