The Australian Securities and Investments Commission (ASIC) has announced that it is revoking the financial services license of Quattro Capital Group Pty Ltd. The regulator also banned the company’s director, Grant Stewart Gibson, from holding a similar position for eight years. The Commission found that the Quattro Capital Group had failed to properly monitor its representatives and ensure that they had been adequately trained. In addition, the company did not have adequate human and financial resources and risk management systems and did not provide its annual financial statements to ASIC in a timely manner.
ASIC Revokes Quattro Capital Group’s AFS License
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