ASIC cancels AFS license of Remi Investment Services
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence of Remi Investment Services Pty Ltd (RIS).
The licence was cancelled because RIS is no longer carrying on a financial services business.
The cancellation took effect on 27 November 2023.
Under the Corporations Act, ASIC may cancel an AFS licence held by a body corporate if it ceases to carry on a financial services business under s915B.
RIS may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Remi Investment Services held AFS licence number 234703 since 31 October 2003. Before it ceased to carry on a financial services business, RIS authorised Remi Capital Pty Ltd (Remi) to provide financial services. Remi was wound up by order of the Supreme Court of Queensland on 9 June 2022 and is currently under external administration.