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Monday 10 May 2021

21-097MR ASIC cancels Master Wealth Control’s Australian Credit Licence

ASIC has cancelled the Australian credit licence (ACL) of Dominique Grubisa’s company Master Wealth Control Pty Ltd (Master Wealth Control), effective from 5 May 2021.

ASIC cancelled the ACL on the basis that Master Wealth Control has not engaged in the credit activities authorised by its credit licence.

Since 18 February 2020, the National Consumer Credit Protection Act 2009 allows ASIC to cancel a credit licence if the licensee has not engaged in the credit activities authorised by the credit licence within a specified 6-month period.

Master Wealth Control held an ACL from 29 March 2011 to 3 May 2021 (number 400712). During this time, ASIC found that Master Wealth Control did not engage in any authorised credit activities under its credit licence in the period commencing 18 February 2020.

At ASIC’s request, Ms Grubisa has also removed statements on the website located at claiming she was an ‘ASIC licensed debt specialist’ and held an ‘ASIC Financial Services Licence’. Neither Ms Grubisa nor her companies currently hold any authorisations or licence to provide financial services.

ASIC’s investigation into Ms Grubisa remains ongoing.

Master Wealth Control may apply to the Administrative Appeals Tribunal (AAT) for a review of ASIC’s decision.