Regulatory Alerts2025-10-23
ASIC cancels licence of Wealth Trail Pty Ltd (In Liquidation)
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence of Wealth Trail Pty Ltd (In Liquidation) after the Compensation Scheme of Last Resort paid $150,000 to satisfy an unpaid AFCA determination. This mandatory cancellation occurs because the licensee failed to pay the AFCA determination, triggering a statutory requirement for ASIC to revoke the licence without discretion or merits review. While the licence is cancelled, Wealth Trail may maintain its AFCA membership for 12 months to allow for the filing of further complaints.
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