meta_id 3334415

On July 2, 2026, the Australian Securities and Investments Commission (ASIC) cancelled the Australian financial services (AFS) licence of Australian Fiduciaries Limited (In Liquidation) following a payment by the Compensation Scheme of Last Resort (CSLR). The Australian Financial Complaints Authority (AFCA) made a determination against Australian Fiduciaries on January 30, 2026, which the company failed to pay. On June 12, 2026, the CSLR made a payment of $150,000 for the AFCA determination and notified ASIC, triggering the mandatory licence cancellation. ASIC is required to cancel an AFS licence where a licensee fails to pay an AFCA determination and the CSLR subsequently pays compensation. The cancellation is not subject to discretion or merits review. Australian Fiduciaries was an AFS licensee based in Queensland and the responsible entity of three registered managed investment schemes: the Global Diversified Alpha Fund, the Global Multi-Strategy Fund, and the Global All Seasons Fund. The company engaged Compare Your Super Pty Ltd as an authorised representative to approach prospective investors about investing in these schemes between January 20, 2020 and January 27, 2021, after which Compare Your Super became an authorised representative of APT Strategy Pty Ltd until September 14, 2023. Despite the licence cancellation, ASIC has specified that Australian Fiduciaries must maintain its AFCA membership for a further 12 months, until June 19, 2027, to allow complaints to be lodged. AFCA will only consider complaints relating to personal financial advice falling within the CSLR scope. This cancellation represents the eleventh AFS licence ASIC has cancelled since the CSLR commenced operations in April 2024. ASIC maintains an ongoing investigation into Australian Fiduciaries and numerous related entities.