ob体育 has cancelled the Australian financial services (AFS) licence of Victorian-based financial services licensee Jyoti Rahman (AFSL number 488 976).
The AFS licence was cancelled because the licensee is no longer providing financial services.
Licensees that no longer need their AFS licence can apply to ob体育 to have their licence cancelled. ob体育 may also take action to cancel a licence when a licensee has ceased to carry on a financial services business.
Until ob体育 has cancelled an AFS licence, ob体育 expects licensees who hold a retail client authorisation to maintain professional indemnity insurance and membership with the Australian Financial Complaints Authority.
Jyoti Rahman may apply to the Administrative Appeals Tribunal for a review of ob体育鈥檚 decision.
Background
Jyoti Rahman has held a limited AFS licence to provide financial product advice about self-managed superannuation funds to retail clients since 8 February 2017 .
Under the Corporations Act, ob体育 may suspend or cancel an AFS licence if the licensee is no longer providing financial services.
Further information on how to cancel an AFSL is here.