Regulatory Alerts2025-10-31
ASIC cancels Australian credit licence of GS-APAC Pty Ltd
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian credit licence of GS-APAC Pty Ltd after the Compensation Scheme of Last Resort paid $51,998.15 to satisfy an unpaid AFCA determination. This mandatory cancellation was triggered because GS-APAC failed to pay the determination, requiring ASIC to revoke the licence without discretion or merits review. The regulator has ordered the company to maintain its AFCA membership for a further 12 months, allowing complaints to be lodged until 23 October 2026.
Share