ASIC cancels AFS licence of APBG Capital Pty Ltd

ASIC has cancelled the Australian financial services (AFS) licence of APBG Capital Pty Ltd (APBG Capital). APBG Capital has held AFS licence no. 481677 since 30 May 2016.

The license authorised APBG Capital to deal in interests in managed investment schemes and provide general financial advice to wholesale clients.

ASIC cancelled the license because APBG Capital has ceased to carry on a financial services business.

APBG Capital may apply to the Administrative Appeals Tribunal for a review of ASICs decision.

ASIC

ASIC, or the Australian Securities and Investments Commission is the regulatory body responsible for enforcing and regulating company and financial services laws in Australia. ASIC's main focus is on promoting fair and transparent financial markets, protecting consumers and investors, and ensuring that companies comply with their legal obligations. The organization also provides guidance and education to help individuals and businesses understand their rights and obligations under the law.

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