ASIC Cancels AFS Licence of Vanda Russell Gould

The Australian Securities and Investments Commission (ASIC) today announced that it has cancelled the Australian financial service (AFS) licence of Vanda Russell Gould.

ASIC found that Vanda Russell Gould failed to maintain external dispute resolution membership with the Australian Financial Complaints Authority (AFCA), and had failed to lodge profit and loss statements and balance sheets for financial years ended 30 June 2019 and 30 June 2020.

Under the Corporations Act, ASIC may suspend or cancel an AFS licence if a licensee fails to meet its general obligations under s912A. This includes the obligation to hold membership of a dispute resolution system and to lodge financial statements annually.

Vanda Russell Gould has the right to seek a review of ASIC's decision by the Administrative Appeals Tribunal.