ASIC has suspended the Australian financial services (AFS) licence of Probis Financial Services Pty Ltd (Probis) after it was placed into voluntary administration on 17 July 2023. 

The suspension includes a provision that requires Probis to continue as a member of Australian Financial Complaints Authority, with arrangements for compensating retail clients in place until the end of 30 October 2023.

On 17 July 2023, Richard Albarran, Brent Kijurina, Cameron Shaw and Aaron Dominish, of Hall Chadwick, were appointed as voluntary administrators of Probis.

Prior to suspension, Probis’ licence permitted it to:

• provide general advice and deal in specified financial products;
• make a market in foreign exchange contracts and derivatives;
• operate a registered managed investment scheme in financial assets; and
• provide custodial and depository services to retail and wholesale clients.

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

Editor's note 1: 

On 27 October 2023, ASIC extended the AFS licence suspension of Probis Financial Services Pty Ltd (Probis) until 31 January 2024 to provide additional time for the voluntary administrators to complete their activities.

Editor's note 2:

On 31 January 2024, ASIC cancelled the AFS licence of Probis Financial Services Pty Ltd (Probis) upon it ceasing carrying on a financial services business.