ASIC considers complaints against Kalkine

Mike Taylor

Managing Editor/Publisher, Financial Newswire

9 February 2023

The Australian Securities and Investments Commission (ASIC) has confirmed to a Parliamentary Committee that it is currently considering complaints it has received against investment portal Kalkine.

Answering a question on notice under the auspices of the Senate Economics References Committee from NSW Liberal Senator, Andrew Bragg, ASIC confirmed it had received complaints about Kalkine.

Its answer to Bragg stated: “We received a number of reports about Kalkine Pty Ltd, including three reports relating to allegations of the provision of unlicensed financial advice. Kalkine holds an Australian Financial Services Licence (Number 425376) to provide general financial advice”.

It said the complaints were received via ASIC’s online complaints portal and by email.

Asked what regulatory action it had taken, if any, ASIC said it had not taken any regulatory action to date against Kalkine, “however, ASIC is currently considering the matters raised in the reports”.