ASIC cancelled CAIP Services Pty Ltd’s Australian financial services licence from 8 July 2026 after finding that the company no longer used it to provide financial services. The firm may seek an ART review.
ASIC Cancels CAIP Services’ AFS Licence on 8 July 2026
The Australian Securities and Investments Commission (ASIC) has cancelled the Australian financial services (AFS) licence held by CAIP Services Pty Ltd, with effect from 8 July 2026. ASIC explained that the licence was cancelled because it determined that CAIP Services Pty Ltd was no longer using it to provide financial services.（Source: ASIC, ASIC cancels AFS licence of CAIP Services Pty Ltd, reported: 2026-07-10, effective date: 2026-07-08.）
It should be noted that the cancellation was an administrative action resulting from the company ceasing to carry on a financial services business. ASIC’s announcement did not describe it as a disciplinary sanction involving misconduct. CAIP Services Pty Ltd is entitled to apply to the Administrative Review Tribunal (ART) for a review of ASIC’s decision.
Legal Basis for the Cancellation Decision
Under section 915B(3)(a) of the Corporations Act 2001 (Cth), ASIC may suspend or cancel an Australian financial services licence when the licensee ceases to carry on a financial services business. The cancellation in this case was made under that provision, triggered by the licensee no longer using the licence to conduct authorised financial services activities.
CAIP Services’ Licence and Authorisations
Key Licence Information
The table below sets out key information concerning the AFS licence held by CAIP Services Pty Ltd and the timeline for its cancellation:
| Item | Details | Relevant Date | Legal Basis |
|---|---|---|---|
| Licence number | 432297 | Held since 2013-02-06 | — |
| Cancellation effective | Licence cancelled | 2026-07-08 | Section 915B(3)(a) |
| Reason for cancellation | No longer using the licence to provide financial services | 2026-07 | Cessation of financial services business |
| Review option | Application for review by the ART | After the decision | Administrative review rights |
Previously Authorised Business Activities
According to ASIC, CAIP Services Pty Ltd had held AFS licence number 432297 since 6 February 2013. The company had previously been authorised to deal in relevant products and provide financial product advice to retail and wholesale clients. The product categories covered included:
General insurance products;
Life risk insurance products.
ASIC explained that these authorisations covered both retail and wholesale clients. Following the cancellation of the licence on 8 July 2026, the company no longer holds authorisation under that licence to conduct the financial services described above.（Source: ASIC, ASIC cancels AFS licence of CAIP Services Pty Ltd, reported: 2026-07-10, paragraphs concerning the licence authorisations and review rights.）
Frequently Asked Questions About the Cancellation of CAIP Services’ Licence
Why did ASIC cancel CAIP Services’ licence?
ASIC determined that CAIP Services Pty Ltd was no longer using its AFS licence to provide financial services and had therefore ceased to carry on a financial services business. ASIC consequently cancelled the licence under section 915B(3)(a) of the Corporations Act 2001.
When did the cancellation take effect?
The cancellation took effect on 8 July 2026. The development was reported by industry media on 10 July 2026.
What licence did CAIP Services previously hold?
The company had held AFS licence number 432297 since 6 February 2013. It was authorised to deal in and provide financial product advice on general insurance and life risk insurance products to retail and wholesale clients.
Was the cancellation a disciplinary sanction?
No. ASIC described it as an administrative cancellation following the licensee’s cessation of its financial services business under section 915B(3)(a). The announcement did not refer to any disciplinary finding involving misconduct.
Can CAIP Services challenge ASIC’s decision?
Yes. CAIP Services Pty Ltd is entitled to apply to the Administrative Review Tribunal for a review of ASIC’s decision.
