ASIC has suspended the Australian monetary providers (AFS) licence of First Metropolis Company Advisory Companies Pty Restricted.
The rationale for the license suspension is that the corporate has didn’t lodge its annual monetary statements and audit experiences.
The suspension, in place till 27 March 2024, supplies First Metropolis with a chance to satisfy its excellent compliance obligations.
If First Metropolis has not complied with its excellent obligations by the tip of the suspension interval, ASIC will think about cancelling its AFS licence.
First Metropolis has held AFS licence quantity 225858 since 15 April 2003. The licence authorises First Metropolis to supply monetary product recommendation and deal in securities for wholesale purchasers.
Well timed lodgement of economic statements and audit experiences promotes confidence in markets by demonstrating an AFS licensee’s capability to satisfy its monetary necessities.