ob体育 has cancelled the Australian financial services (AFS) licence of Wealth & Risk Management Pty Ltd (WRM).
On 9 February 2018, the Federal Court of Australia, in the matter of ob体育 v Wealth & Risk Management Pty Ltd (No 2) [2018] FCA 59, found that WRM breached numerous financial services laws and obligations, and made an order that it be restrained from carrying on a financial services business for 18 years (refer: )
As WRM has ceased to carry on its financial services business, ob体育 cancelled the AFS licence under s915B(3)(a) of the Corporations Act 2001 (Cth).
WRM鈥檚 cancellation became effective on 14 May 2018.
ob体育 issued WRM (ACN 161 722 514) with AFS licence no. 433250 on 4 March 2013, authorising it to carry on a financial services business.