ASIC Cancels Australian Fiduciaries’ AFS Licence Following CSLR Payment
ASIC cancelled Australian Fiduciaries' licence after an unpaid AFCA determination; CSLR paid $150,000 compensation. APT Strategy, linked via Compare Your Super, was re-registered on 2 July 2026, potentially enabling affected investors to pursue AFCA complaints and CSLR compensation claims.
On 17 July 2026, the Australian Securities and Investments Commission announced that it had cancelled the Australian financial services licence of Australian Fiduciaries Limited (In Liquidation).
ASIC confirmed that the cancellation followed an unpaid determination made by the Australian Financial Complaints Authority against Australian Fiduciaries on 30 January 2026. The Compensation Scheme of Last Resort subsequently made a payment of $150,000 in respect of that AFCA determination on 12 June 2026.
Under the statutory framework applying to the CSLR, ASIC is required to cancel an AFS licence where a licensee fails to pay an AFCA determination and the CSLR pays compensation. ASIC has also specified that Australian Fiduciaries must maintain its AFCA membership for a further 12 months, until 19 June 2027, so that eligible complaints may still be lodged with AFCA.
Important Development for APT Strategy Investors
Australian Fiduciaries was the responsible entity for the Global Diversified Alpha Fund, the Global Multi-Strategy Fund and the Global All Seasons Fund.
ASIC’s announcement also refers to Compare Your Super Pty Ltd, which was an authorised representative of Australian Fiduciaries between 20 January 2020 and 27 January 2021, and later became an authorised representative of APT Strategy Pty Ltd between 27 January 2021 and 14 September 2023.
This timing may be highly relevant for investors who received personal financial advice through Compare Your Super in relation to investments connected with Australian Fiduciaries’ registered schemes.
Financial Dispute Legal has been acting for affected investors and successfully obtained orders in the Supreme Court of Queensland for APT Strategy Pty Ltd to be re-registered. ASIC re-registered APT Strategy on 2 July 2026, and liquidators have now been appointed.
The re-registration of APT Strategy is a significant step in the compensation recovery process because AFCA generally cannot consider complaints against a deregistered company. The liquidators may now apply for APT Strategy’s AFCA membership to be reinstated. If that occurs, AFCA will determine whether complaints can proceed and whether affected investors may ultimately become eligible to access compensation through the CSLR.
Potential Compensation Pathway
The CSLR may pay compensation of up to $150,000 where an eligible consumer has an unpaid AFCA determination involving, among other things, authorised personal financial advice.
For investors who were advised to invest through Compare Your Super, the relevant complaint entity may depend on when the investment was made:
- investments made between 20 January 2020 and 27 January 2021 may involve Australian Fiduciaries, through Compare Your Super as its authorised representative; and
- investments made between 27 January 2021 and 14 September 2023 may involve APT Strategy, through Compare Your Super as its authorised representative.
The successful re-registration of APT Strategy is therefore an important development for investors seeking to pursue complaints and recover compensation.
Contact Financial Dispute Legal
Financial Dispute Legal continues to assist investors affected by Australian Fiduciaries, APT Strategy and Compare Your Super.
If you invested in the Global Diversified Alpha Fund, the Global Multi-Strategy Fund, the Global All Seasons Fund, or otherwise received advice through Compare Your Super, contact Financial Dispute Legal to discuss your circumstances and any potential rights to recover compensation on 1300 433 533 or enquiry@fdlegal.com.au
