Perth stockbroker Stellar Securities has had its financial services licence cancelled by the corporate regulator, after it failed to comply with the licence’s conditions.
The Australian Securities and Investments Commission said today that Stellar Securities had failed to comply with a host of conditions pertaining to the licence, including financial requirement caveats.
Stellar Securities will not be able to provide financial advice or deal in financial products for the next 12 months.
The cancellation of its licence caps a harrowing month for Stellar, which was locked out of its office in St Georges Terrace by its landlord, who claimed rent had gone unpaid for several months.
Customers who have complaints regarding their dealings with Stellar can contact the Financial Ombudsman Service on 1300 780 808.
