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Wednesday 1 June 2016

16-173MR ASIC cancels licence of AFS wholesale service provider

ASIC has cancelled the Australian financial services (AFS) licence of TMK Index Limited (AFS Licence No 314823) for failing to comply with a number of key obligations, including requirements around the lodgment of accounts, breach notifications, meeting Net Tangible Asset requirements and maintaining adequate, competent staffing arrangements.  

'ASIC takes compliance with these obligations seriously as they are important to ensure we have efficient well-functioning financial markets,' Commissioner Greg Tanzer said. 'ASIC can and does hold gatekeepers to account to ensure investors can have confidence in our financial system.'  

Wholesale fund managers are reminded to comply with their AFS licence obligations, and that ASIC will take action should they fail to do so. Please also refer to Dunfo Capital Pty Ltd (15-273MR).

TMK Index Limited has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Background

TMK Index Limited’s licence was cancelled with effect from 12 May 2016.

TMK Index Limited was previously known as Fish Capital Securities Ltd.

Last updated: 30/03/2021 09:33