The Australian Securities and Investments Commission (ASIC) has revoked the Australian financial services (AFS) license of Sydney-based financial services provider Indie Advice Pty Ltd.
The cancellation of the license took effect on January 19, 2024.
The license was revoked after ASIC became aware that Indie Advice had not been providing financial services for some time. Under the Companies Act, ASIC can suspend or cancel an AFS license if the license holder has ceased to provide financial services.
Indie Advice held AFS license no. 511786 from October 23, 2018. Authorized to provide financial product advice to retail and wholesale clients.
The authorization continues until 30 June 2024 in order to maintain the functioning of the internal and external dispute resolution systems.