ASIC has cancelled the Australian financial services (AFS) licence of Valorton Capital Pty Ltd (Valorton).

The licence was cancelled because Valorton had not provided any financial services since the licence was granted on 27 October 2022.

The cancellation took effect on 14 February 2024.

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

Background

Under subsection 915B(3A) of the Corporations Act, ASIC may cancel an AFS licence held by a body corporate if it does not provide a financial service covered by the licence before the end of six months after the licence is granted.