The Australian Securities and Investments Commission (ASIC) has suspended Australian financial services (AFS) licence number 239 946, held by Beacon Wealth Pty Ltd, until 7 April 2026.

The AFS licence was suspended because the firm had ceased carrying on a financial services business.

In June 2024, ownership and control of the licensee changed when the directors were replaced and 100 per cent of the shares in the licensee were sold to a new owner, who since that time has not been carrying on a financial services business. ASIC also found that the AFS licensees’ responsible managers and key person no longer had any involvement with the licensee.

Beacon Wealth has indicated that it wishes to commence a financial services business under the AFS licence, however it will need to obtain approvals from ASIC in order to do so.

AFS license 239 946 was issued in 2003 and was previously known as CCZ Statton Pty Ltd, CCZ Statton Equities Pty Ltd and CCZ Equities Australia Pty Ltd.