Regulatory Alerts2026-05-26
ASIC cancels AFS licence of Global Pacific Solutions Group Pty Ltd
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services licence of Global Pacific Solutions Group Pty Ltd effective 20 May 2026. The cancellation was issued under section 915B(3)(a) of the Corporations Act because the licensee ceased to carry on a financial services business. The company retains the right to apply to the Administrative Appeals Tribunal for a review of this decision.
ASIC has cancelled the Australian financial services (AFS) licence of Global Pacific Solutions Group Pty Ltd (AFS licence 514164). The licence cancellation took effect on 20 May 2026.
The licence was cancelled because Global Pacific Solutions Group Pty Ltd is no longer carrying on a financial services business.
Under s915B(3)(a) of the Corporations Act, ASIC may cancel an AFS licence held by a body corporate if the body ceases to carry on a financial services business.
Global Pacific Solutions Group Pty Ltd may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.
Background
Global Pacific Solutions Group Pty Ltd has held AFS licence 514164 since 24 February 2019.