ob体育 has cancelled the Australian financial services (AFS) licence of Brendan Kennedy.
ob体育 cancelled the licence because Mr Kennedy failed to maintain external dispute resolution membership with the Australian Financial Complaints Authority (AFCA) and failed to lodge the profit and loss statement, balance sheet and compliance certificate for financial years ended 30 June 2020 and 30 June 2021.
Under the Corporations Act, ob体育 may suspend or cancel an AFS licence if a licensee fails to meet its general obligations under s912A. This includes the obligation to hold membership of a dispute resolution system and lodge financial statements annually with ob体育.
The cancellation of Mr Kennedy鈥檚 AFS licence is part of ob体育鈥檚 ongoing efforts to improve standards across the financial services industry.
Background
Brendan Kennedy has held a limited AFS licence since 18 May 2017 (AFSL 489192) and may apply to the Administrative Appeals Tribunal for a review of ob体育鈥檚 decision.