ob体育 has suspended the Australian financial services (AFS) licence of First City Corporate Advisory Services Pty Limited (First City) for failing to lodge its annual financial statements and audit reports.
The suspension, in place until 27 March 2024, provides First City with an opportunity to meet its outstanding compliance obligations.
If First City has not complied with its outstanding obligations by the end of the suspension period, ob体育 will consider cancelling its AFS licence. The suspension took effect on 3 October 2023.
Background
First City has held AFS licence number 225858 since 15 April 2003. The licence authorises First City to provide financial product advice and deal in securities for wholesale clients.
Timely lodgement of financial statements and audit reports promotes confidence in our markets by demonstrating an AFS licensee鈥檚 capacity to meet its financial requirements.
Editor's Note 1:
On 26 March 2024, ob体育 extended the period of suspension of First City鈥檚 AFS licence to 27 June 2024.
Editor's Note 2:聽
On 21 May 2024, ob体育 reinstated First City鈥檚 AFS licence following a suspension.