ASIC has cancelled the Australian financial services (AFS) licence of Eden Asset Management Pty Ltd (Eden) (AFSL 296466).

The AFS licence was cancelled on the basis that Eden is in liquidation.

The cancellation was made with the consent of Eden’s Liquidators following enquiries made by ASIC about non-compliance with statutory reporting, audit and financial requirements.

The Liquidators advised ASIC that Eden was no longer trading therefore had no further need of its licence.

Background

Eden has held AFS licence number 296466 since 13 February 2006.

ASIC may cancel an AFS licence held by a body corporate without the requirement for a hearing if it is a Chapter 5 body corporate which relevantly includes a body corporate that is being wound up or is under administration.