ASIC has cancelled the Australian financial services licence (AFS licence) of Australian Fiduciaries Limited (In Liquidation) (Australian Fiduciaries) following a payment by the Compensation Scheme of Last Resort (CSLR).

On 30 January 2026, the Australian Financial Complaints Authority (AFCA) made a determination against Australian Fiduciaries, which Australian Fiduciaries failed to pay.

Subsequently, on 12 June 2026, the CSLR made a payment of $150,000 for the AFCA determination and notified ASIC. As a result, on 2 July 2026, ASIC cancelled the Australian financial services licence of Australian Fiduciaries.

ASIC is required to cancel the AFS licence of a licensee where that licensee fails to pay an AFCA determination and the CSLR subsequently pays compensation.

The cancellation is not subject to discretion or merits review.

In making the cancellation order, ASIC has specified that Australian Fiduciaries is to maintain its membership with AFCA for a further 12 months, to 19 June 2027 so that complaints about Australian Fiduciaries can still be lodged with AFCA.

AFCA has advised ASIC that because Australian Fiduciaries is now in liquidation, AFCA will only consider complaints about it which fall within scope of the Compensation Scheme of Last Resort (for example where it relates to personal financial advice).

Further information can be found on the AFCA webpage: Australian Fiduciaries Ltd (in liquidation).

ASIC has an ongoing investigation into Australian Fiduciaries and numerous related entities (see Australian Fiduciaries Ltd).

Background

Australian Fiduciaries was an Australian financial services (AFS) licensee with licence number 465658, based in Queensland and the responsible entity of three registered managed investment schemes - the Global Diversified Alpha Fund, the Global Multi-Strategy Fund and the Global All Seasons Fund.

Australian Fiduciaries engaged Compare Your Super Pty Ltd (Compare Your Super) to approach prospective investors about investing in its registered schemes.

Compare Your Super was an authorised representative of Australian Fiduciaries from 20 January 2020 until 27 January 2021, then became an authorised representative of APT Strategy Pty Ltd (APT Strategy) from 27 January 2021 until 14 September 2023.

Investors who believe they may have received any personal financial advice through Compare Your Super about investing in the registered schemes should have regard to the time period during which they made their investment, as this will determine which entity they may make a complaint about to AFCA.

For example, if the investment was made during the period from 20 January 2020 to 27 January 2021 they may consider making a complaint with AFCA about the financial advice provided by Australian Fiduciaries, through Compare Your Super as its authorised representative at that time.

Similarly, if the investment was made during the period from 27 January 2021 to 14 September 2023 they may consider making a complaint with AFCA about the financial advice provided by APT Strategy, through Compare Your Super as its authorised representative at that time.

APT Strategy was re-registered by ASIC on 2 July 2026, as directed by the Supreme Court of Queensland. Liquidators have been appointed and the company remains in liquidation.

The liquidators can now apply to reinstate APT Strategy’s AFCA membership. When that happens, it is a matter for AFCA to assess the application and consider whether membership can be reinstated. 

Further information can be found on the AFCA Webpage - APT Strategy Pty Ltd.

The CSLR was established in June 2023, commencing operations in April 2024. It can pay up to $150,000 in compensation to consumers who have an unpaid determination from AFCA relating to authorised personal financial advice, credit intermediation, securities dealing or credit provision, and where other eligibility criteria are met.

The AFCA complaint process must first be completed before a claim can be lodged with the CSLR. All reasonable steps to obtain compensation from the credit and or financial firm must be taken before a CSLR payment can be made.

ASIC’s decision to cancel the AFS licence of Australian Fiduciaries follows previous ASIC decisions.

ASIC has cancelled ten AFS licences and six credit licences since the commencement of the CSLR:

• 26-035MR ASIC cancels AFS licence of Private Wealth Pty Ltd
• 25-258MR ASIC cancels licence of GS-APAC Pty Ltd
• 25-246MR ASIC cancels licence of Wealth Trail Pty Ltd (In Liquidation)
• 25-183MR ASIC cancels licence of Easy Plan Financial Services Pty Ltd
• 25-080MR ASIC cancels licence of Calaite Capital Partners Pty Ltd
• 25-067MR ASIC cancels licence of Brite Advisors Pty Ltd
• 25-064MR ASIC cancels licence of Viridian Equity Group Pty Ltd
• 24-262MR ASIC cancels licence of RPD Group Advice Pty Ltd
• 24-256MR ASIC cancels licence of DOD Bookkeeping Pty Ltd
• 24-233MR ASIC cancels the Australian financial services and credit licences of Ultiqa Lifestyle Promotions Limited
• 24-181MR ASIC cancels licence of Libertas Financial Planning
• 24-210MR ASIC cancels licences of Ultimate Credit Management Pty Ltd and Worry Free Finance Pty Ltd
• 24-223MR ASIC cancels licence of Ferratum Australia Pty.