ASIC has cancelled the Australian financial services (AFS) licence of ACVM Pty Ltd (ACVM) for failing to meet its financial reporting obligations.

ACVM is permitted to provide financial services that are reasonably necessary for, or incidental to the liquidation and distribution of its assets and the winding up of its scheme until 30 June 2023.

The licence authorised ACVM to deal in interests in managed investment schemes to wholesale clients.

ACVM may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

ACVM may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Background

ACVM has held AFS licence no. 488767 since 30 September 2016.