ASIC has cancelled the Australian credit licence of Accumulus Capital Pty Ltd (Accumulus).
The Australian credit licence was cancelled because Accumulus had failed to pay ASIC Industry Funding Levies (levies) and related late payment penalties within 12 months after the due date for payment. Accumulus had also not engaged in credit activities since the licence was granted.
Cancellation took effect on 4 July 2024.
Accumulus may apply to the Administrative Appeals Tribunal for a review of ASIC’s decision.