ASIC has suspended the Australian financial services (AFS) licence of Navigate Global Payments Pty Ltd (Navigate) until 18 October 2023, after it was placed into voluntary administration on 30 June 2023.

On 30 June 2023, Nick Combis of Vincents Chartered Accountants was appointed as voluntary administrator of Navigate. On the same day, David Hardy, Sarah Seeckts and Ryan Eagle of KPMG were appointed as receivers and managers of Navigate.

ASIC encourages clients of Navigate to carefully monitor and watch for updates from Navigate, as well as from the administrator, and receivers and managers.

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