ASIC to wind up three financial services companies

The Federal Court ordered that Australasia Wealth Services and Management, Marigold Falconer International, and My Wealth Adviser be wound up and that liquidators be appointed.

In a statement, ASIC said it had applied to have Marigold Falconer and My Wealth Adviser wound up on 20 February 2020, and applied to have Australasia Wealth Services and Management wound up on 6 March 2020. McGrathNicol has been appointed as liquidators for all three companies, which were previously licensed to provide financial services but no longer have a current licence.

“ASIC commenced the proceedings to protect the public in circumstances where it holds concerns about the conduct of the affairs of those companies and their solvency,” the regulator said in a statement, adding that investigations into each of the three companies are ongoing.