The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of Rizzak Capital Pty Ltd.

The regulator explains that the licence was cancelled because Rizzak Capital failed to comply with the key person condition of its AFS licence and failed to submit its financial statements and audit opinions for the financial years ended 30 June 2020 and 30 June 2021.

Rizzak Capital may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Rizzak Capital Pty Ltd has held AFS licence no. 429966 since 30 January 2013.

The company operates via https://www.rizcfx.com but the website was not accessible at the moment of writing of this article. Rizzak Capital claims that it “provides reliable and worry free investment solutions for foreign exchange and CFD traders”.