ASIC has cancelled the Australian financial services (AFS) licence of Quattro Management Pty Limited (AFSL 339558).

The licence was cancelled on the basis that Quattro Management has never provided financial services since the AFS licence was issued in 2009.

The cancellation follows enquiries made by ASIC about Quattro Management’s failure to become a member of the Australian Financial Complaints Authority.

ASIC may cancel an AFS licence held by a body corporate without a hearing if the body does not provide a financial service covered by the AFS licence before the end of six months after the licence is granted.