ASIC has cancelled the Australian financial services (AFS) licence of New South Wales-based financial services provider LRA Corporate Pty Ltd ACN 062 427 696 (LRA Corporate) effective from 3 February 2025.

The AFS Licence was cancelled after ASIC became aware that LRA Corporate had ceased to carry on a financial services business. ASIC may suspend or cancel an AFS Licence if the licensee ceases to carry on a financial services business under section 915B of the Corporations Act.

Background 

LRA Corporate held AFS Licence number 253008 since 3 February 2004. It was authorised to carry on a financial services business to deal and provide financial product advice to both retail and wholesale clients.

LRA Corporate has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.