The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of SME Crowdfunder Pty Ltd after the firm ceased providing financial services. ASIC said SME had not provided any financial services since September 2023, and the cancellation took effect on 2 May 2025. The decision was made under subsection 915B(3)(a) of the Corporations Act, which allows ASIC to cancel an AFS licence if a body corporate ceases to carry on a financial services business. SME may apply to the Administrative Review Tribunal to seek a review of ASIC’s decision.
Australian Securities & Investments Commission 2025-05-16
Australian Securities & Investments Commission cancels SME Crowdfunder’s Australian financial services licence after it ceased providing services
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of SME Crowdfunder Pty Ltd, effective 2 May 2025, as the firm ceased providing financial services since September 2023. The decision was made under subsection 915B(3)(a) of the Corporations Act. SME may seek a review of this decision by the Administrative Review Tribunal.