ob体育 has suspended the Australian financial services (AFS) licence of Id Funds Management Limited (Id Funds) until 28 February 2025.
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The licence was suspended on the basis that Id Funds failed to meet its statutory audit and financial reporting lodgment obligations for the financial years ending 30 June 2022 and 30 June 2023.
ob体育 will lift the suspension earlier if Id Funds complies with its statutory audit and financial reporting lodgment obligations. ob体育 may consider further action if Id Funds continues to not comply with its obligations at the end of the suspension period.
Background
Id Funds has held AFS licence no. 488178 since 29 March 2017 and may apply to the Administrative Appeals Tribunal for a review of ob体育鈥檚 decision.
Editor's Note:
On 19 February 2025 ob体育 extended the licence suspension of Id Funds until 30 May 2025.听 The extended suspension gives Id Funds an opportunity to comply with its outstanding compliance obligations.