Regulatory Alerts2025-09-29
ASIC cancels Lief Pty Ltd AFS licence for failing to hold AFCA membership
The Australian Securities and Investments Commission has cancelled the Australian financial services licence of Lief Pty Ltd effective 21 August 2025 due to its failure to maintain mandatory Australian Financial Complaints Authority membership. ASIC also determined that Lief failed to comply with financial reporting obligations, including the requirement to lodge annual profit and loss statements and balance sheets. The regulator exercised its power under section 915C of the Corporations Act to revoke the licence, which Lief may appeal to the Administrative Review Tribunal.
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