The Australian Securities and Investments Commission (ASIC) announced today that it has suspended the Australian Financial Services (AFS) licence of Dixon Advisory & Superannuation Services Pty Limited (Dixon Advisory).
The suspension follows the appointment of Stephen Graham Longley and Craig David Crosbie as co-managers of Dixon Advisory on 19 January 2022. The joint administrators have informed ASIC that the majority of Dixon Advisory’s clients have transitioned to other financial services providers of their choice.
The suspension terms are:
Dixon Advisory’s AFS licence is valid until 9 May 2022 to allow existing clients who have not transitioned to other financial services providers to continue to receive financial services.
Request to maintain dispute resolution arrangements, including membership of the Australian Financial Complaints Authority, until 8 April 2023.
Request to maintain indemnity arrangements under Section 912B of the Companies Act 2001 until 8 April 2023.
Dixon Advisory can apply to the Administrative Appeals Tribunal for a review of ASIC’s suspension decision.
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