ASIC suspends licence of MJ Wren & Co

ASIC suspends licence of MJ Wren & Co

Sydney stockbroker MJ Wren & Co has had its financial services licence suspended after ASIC found it failed to comply with its risk-based capital requirements.


ASIC has suspended the licence of Australian financial services licence (AFSL) of MJ Wren & Co until 16 October 2018.

The regulator took the action after it identified the stockbroker had failed to comply with the risk-based capital requirements set out in the market integrity rules.

MJ Wren is a Sydney-based stockbroker that participates in the ASX.

ASIC said it had suspended MJ Wren's licence to ensure the stockbroker takes "necessary steps to meet the obligations of an AFS licensee before recommencing its financial services business".

MJ Wren has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.

Related Articles

 

ASIC suspends licence of MJ Wren & Co
investordaily image
ID logo
promoted stories

Appointments

Stephen Glenfield

FASEA appoints new chief executive

Reporter

David Murray

David Murray starts as AMP chairman

Reporter

Adrian Went

ANZ names new group treasurer

Reporter

Analysis

investordaily image

Super shouldn’t be a lottery

Tim Stewart

investordaily image

Can infrastructure equities cope with rising rates?

James Lydotes

James Swanson

Is this as good as it gets?

James Swanson