ASIC suspends AFS licence of Vesta Living Communities
Australia
- 06/12/2018
- Suspension
- Australian Securities and Investments Commission
Detail
The Australian Securities and Investments Commission (ASIC) has suspended the Australian financial services (AFS) licence of Vesta Living Communities Ltd (Vesta) after concluding that it had not maintained adequate compliance measures to meet its licence obligations.
ASIC found Vesta had not met the organisational competence and financial resource requirements of its licence. Specific findings included that Vesta failed to replace the key person under the licence following a resignation and to lodge financial reports on time.
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