On October 19, 2023, the Australian Securities and Investments Commission (ASIC) suspended the Australian Financial Services (AFS) license of Celtic Equities Management Pty Ltd for six months.
ASIC's supervision found that Celtic Equities Management failed to:
- Submit financial statements and audit reports for the period from June 30, 2017, to June 30, 2022;
- Pay the ASIC industry funding levies due;
- Pay the applicable late fees.
ASIC suspended Celtic Equities Management's AFS license to compel the company to take the necessary steps to demonstrate its ability to fulfill its outstanding compliance obligations.
If Celtic Equities Management fails to fulfill its outstanding compliance obligations by the end of the suspension period, ASIC will consider canceling its license.
Background: Celtic Equities Management Pty Ltd, with AFS number 245486, has held AFS license number 225216 since December 11, 2003.
