The Australian Securities and Investments Commission (ASIC) has revoked the Australian financial services (AFS) license of Valorton Capital Pty Ltd.
The license was canceled because Valorton had not provided financial services since the license was granted on October 27, 2022.
The cancellation took effect on February 14, 2024.
Valorton may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Under subsection 915B(3A) of the Corporations Act, ASIC can cancel an AFS license held by a body corporate if it does not provide a financial service covered by the license before the end of six months after the license was granted.