The Australian Securities and Investment Committee (ASIC) revealed on Monday that it had canceled the AFS license (AFS) for Perlus Ballast Financial Management PTY LTD, starting from June 20, 2025.
According to the regulator, the cancellation follows that the bracelet may stop operating a financial services company.
The organizer explained that under Article 915 B of the Corporate Law of 2001, ASIC may suspend or cancel a license if the licensee is no longer working.
Ballast, which has been held AFS 233180 license since September 9, 2003, has been stated to provide advice and financial product services to retail and wholesale sales customers.
The company’s operations were licensed for more than two decades before the last cancellation.
While canceling the license is now valid, the patient reserves the right to appeal the decision of the Administrative Appeals Court.
ASIC did not reveal the specific conditions according to which Al -Saboura stopped its operations, but the cancellation is compatible with the responsibility of the organization to ensure that the licensed entities remain active and compatible in the financial services sector.
This step is part of the continuous ASIC supervision of financial service providers. Entities that no longer meet operational requirements under the law face regulatory procedures, including canceling the license or suspension.