ASIC has suspended the Australian financial services (AFS) licence of Equtise Pty Ltd (Equitise) until 10 February 2025.

The AFS licence was suspended because Equitise is under external administration.

On 31 October 2024, Equitise was placed into voluntary administration. Mohammad Mirzan Bin Mansoor and Damien Mark Hodgkinson of Olvera Advisors Pty Ltd were appointed as joint and several administrators.

For further information about the administration, please contact the administrators.

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

Background

Equitise held AFS licence since 11 January 2018. The licence authorises Equitise to provide crowd-funding services to retail and wholesale clients via an offer platform.

ASIC has the power to suspend or cancel an AFS licence held by a Chapter 5 body corporate. A Chapter 5 body corporate includes a body corporate that is under administration.