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ASIC suspends Australian Performance Financial Planning Pty Ltd licence


ASIC has suspended the Australian financial services (AFS) licence of Sydney-based Australian Performance Financial Planning Pty Ltd (Australian Performance Financial Planning) for three months.

The company’s licence has been suspended until 1 July 2012 because it has been put under the control of an external administrator.

An external administrator was appointed to Australian Performance Financial Planning in February 2012.

Australian Performance Financial Planning is a financial planning business that provides financial advice for clients with self-managed super funds or similar investments and income protection and life insurance policies.

ASIC will review the suspension within the three month period to determine whether it continues to be necessary.

Australian Performance Financial Planning has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.

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