ASIC has cancelled the Australian financial services (AFS) licence of RVM Capital Pty Ltd (RVM) for failing to lodge its annual financial statements and auditor’s reports for three consecutive years.

RVM Capital Pty Ltd held the AFS licence no. 457140. The licence cancellation was effective from 21 January 2020.

The cancellation of RVM’s AFS licence is part of ASIC's ongoing efforts to improve standards across the financial services industry.

Licensees must have the financial resources to provide the services covered by their licence and to conduct their business lawfully. They must demonstrate this by lodging their financial statements and auditor’s reports annually.

ASIC may suspend or cancel a licence if the licensee fails to meet this obligation.