ASIC cancels licence of Victorian SMSF advice firm

In a statement, ASIC said it had cancelled the licence of Victorian-based financial services provider Jyoti Rahman because the licensee was no longer providing financial services.

Jyoti Rahman had held a limited AFS licence to provide SMSF-related advice to retail clients since February 2017.

“Licensees that no longer need their AFS licence can apply to ASIC to have their licence cancelled,” ASIC said.

“ASIC may also take action to cancel a licence when a licensee has ceased to carry on a financial services business.”