Regulatory Alerts2025-11-18
ASIC suspends AFS licence of Surety Compliance Limited
The Australian Securities and Investments Commission has suspended the Australian financial services licence of Surety Compliance Limited until 27 October 2026 due to its failure to meet minimum financial requirements and hold professional indemnity insurance. The suspension permits Surety to continue providing services necessary for the payment of redemptions and the winding up of the Private Investment Fund it manages. During this period, Surety must comply with specific obligations including maintaining a dispute resolution system and holding professional indemnity insurance cover.
ASIC has suspended the Australian financial services (AFS) licence of Surety Compliance Limited ( Surety ) until 27 October 2026.
Surety is the responsible entity of the Private Investment Fund ( Scheme ).
This follows Surety’s failure to meet minimum financial requirements and hold professional indemnity insurance.
The terms of the suspension mean Surety may continue to provide financial services that are necessary for, or incidental to, the payment of redemptions from and winding up of the Scheme.
During the suspension Surety is required to meet obligations, if applicable, to have a dispute resolution system and be a member of the Australian Financial Complaints Authority scheme and hold professional indemnity insurance cover.
Surety may apply to the Administrative Review Tribunal for a review of ASIC's decision.
Background
Surety has held AFS licence number 322 620 since 24 October 2008.