The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of Queensland-based financial services provider Thistle Financial Group Pty Ltd.

The cancellation is effective from 7 May 2025.

The AFS licence was cancelled after ASIC became aware that Thistle Financial Group had ceased to carry on a financial services business. The regulator notes that it may suspend or cancel an AFS Licence if the licensee ceases to carry on a financial services business under section 915B of the Corporations Act.

Thistle Financial Group held AFS Licence number 484742 since 22 July 2016. It was authorised to carry on a financial services business to deal and provide financial product advice to both retail and wholesale clients.

Thistle Financial Group has the right to appeal to the Administrative Review Tribunal for a review of ASIC’s decision.