The Australian Securities and Exchange Commission (ASIC) has canceled Australian Financial Services (AFS) license by SME Crowdfunder Pty Ltd.
The license was canceled because the media had stopped providing financial services and had not provided any financial service since September 2023.
The cancellation came into force on 2 May 2025.
SMEs may apply to the ASIC review administrative court to review the ASIC decision.
According to subparagraph 915B (3) (a) of the Law on Companies, ASIC may cancel an AFS license owned by a House company if it ceases to continue a financial service business.