The Australian Services and Investments Commission announced it has cancelled the Australian financial services (AFS) licence held by Sydney-based financial services provider Halifax Investment Services Pty Limited on 8 January 2021.
The AFS licence cancellation allows Halifax to continue certain processes on a limited basis until 7 January 2022.
Those processes include:
- ensuring that clients of Halifax continue to have access to an external dispute resolution scheme;
- ensuring that Halifax continues to have arrangements for compensating retail clients, including the holding of professional indemnity insurance cover; and
- providing financial services to retail or wholesale clients of Halifax limited to the termination of existing arrangements with clients.
These conditions have been put in place so that the cancellation does not adversely affect past or current clients.
Source: Leaprate
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