ASIC has suspended the Australian financial services (AFS) licence of Olritz Financial Group Pty Ltd (Olritz) until 5 March 2025.

ASIC suspended the licence because Olritz has not carried on a financial services business since May 2023.

The licence suspension means that Olritz cannot provide any financial services.

Olritz may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.

Background

Olrtiz held AFS licence number 244539 since 27 February 2004. The licence authorises Olritz to deal in financial products, provide financial advice and custodial or depository services to wholesale clients.