ASIC has suspended the Australian financial services (AFS) licence of Cartesian Corporate Finance Limited (Cartesian) until 25 August 2023.
The licence authorises Cartesian to deal in securities and interests in managed investment schemes and provide financial product advice for wholesale clients.
ASIC suspended the licence on the basis that Cartesian has ceased to carry on a financial services business. ASIC may cancel the licence if, by the end of the suspension period, Cartesian is not in a position to recommence its financial services business.
Cartesian may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Cartesian has held AFS licence number 257871 since 18 February 2004.
On 25 August 2023, ASIC extended the period of suspension of Cartesian's AFS licence to 20 October 2023.