Perth-based corporate advisory practice Octani Capital has had its Australian financial services licence cancelled by ASIC.
Octani Capital, a Perth-based corporate advisory practice, has had its AFSL cancelled, after failing to pay its fees to ASIC.
The corporate regulator said in a statement that Octani, which is operated by Philip Hirschberg, was deregistered on 2 March 2018 for "non-payment of fees".
"Accordingly, its AFS licence has been cancelled under s915B(3) of the Corporations Act 2001, from 21 March 2018," said ASIC.
Octani, which had held its licence since 23 December 2009, described itself on its website as a "full-service independent corporate strategy and corporate financial advisory practice".
"We specialise in assisting middle-market clients in all major industries with strategic transactions such as capital raisings, divestments, and acquisitions," said the Octani website.
Octani said it has a "comprehensive network" throughout Asia Pacific, including private equity fund managers, high-net worth individuals, investment bankers, corporate and M&A lawyers, insolvency practitioners, and corporate tax specialists.
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