ASIC has cancelled the Australian financial services (AFS) licence of The Silverfern Group Pty Ltd (Silverfern) (AFSL 382641).

The AFS licence was cancelled on the basis that Silverfern ceased carrying on the financial services business.

The cancellation was made with Silverfern’s consent following enquiries made by ASIC about non-compliance with statutory reporting, audit requirements and failure to pay ASIC fees. Silverfern resolved its non-compliance with respect to these issues prior to the cancellation.

ASIC may cancel an AFS licence held by a body corporate without the requirement for a hearing, if the body ceases to carry on the financial services business.

Background

Silverfern has held AFS licence number 382641 since 9 July 2009.