ASIC ends AFS licence suspension of Sydney firm
The Australian Securities and Investments Commission (ASIC) has announced that the suspension of the Australian financial services (AFS) licence of Sydney based financial services provider, Gigi Investment Group Pty Ltd, has ended following compliance with obligations.
On 10 November 2022, ASIC suspended its licence for a period of three months after it found that the firm failed to:
- lodge its financial statements and audit report for the financial year ended 30 June 2021;
- pay its ASIC Industry Funding Levies; and
- maintain membership of the AFCA scheme.
ASIC informed that, prior to the conclusion of the suspension, Gigi Investment had lodged the outstanding financial statement and audit report, paid the ASIC Industry Funding Levies and obtained AFCA membership.
Following this, the suspension ended on 13 February 2023.
Gigi Investment Group Pty Ltd has held AFS licence since 23 January 2004.
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