NEWS
The Australian Securities and Investments Commission (ASIC) has announced the suspension of Aurora Funds Management Limited’s (Aurora) Australian financial services (AFS) license until September 20, 2024.
Aurora, holding AFS license number 222110 since September 2, 2002, failed to meet its statutory audit and financial reporting lodgement obligations for the financial years ending in 2022 and 2023, as revealed by ASIC’s investigation.
During the license suspension, Aurora is prohibited from providing financial services, including issuing new interests in the Schemes. However, ASIC has allowed Aurora to continue offering financial services essential for the day-to-day operation of the Schemes to safeguard the interests of Scheme investors.
ASIC has stated that the suspension could be lifted earlier if Aurora complies with its audit and financial reporting obligations. Failure to meet these obligations by the end of the suspension period may prompt ASIC to consider further action.
