ASIC has cancelled the Australian financial services (AFS) licence of Global Funding Partners Pty Ltd (AFSL 502802).

The licence was cancelled on the basis that Global Funding Partners has ceased to carry on a financial services business.

The cancellation follows enquiries made by ASIC about Global Funding Partners’ failure to be 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 ceases to carry on a financial services business.