ASIC Suspends AFS Licence Following Change of Ownership

The Australian Securities and Investments Commission (ASIC) has suspended the Australian Financial Services (AFS) licence (number 239 946) held by Beacon Wealth Pty Ltd until 7 April 2026.

The suspension follows Beacon Wealth Pty Ltd ceasing to carry on a financial services business. In June 2024, the company underwent a complete change in ownership and control, with a full replacement of directors and a 100% transfer of share ownership to a new entity. Since that transition, the company has not conducted any financial services activities.

ASIC determined that the licensee no longer met the necessary conditions, including the ongoing involvement of its responsible managers and key person, who have ceased their association with the company.

Beacon Wealth Pty Ltd has expressed an intention to resume financial services operations under the current licence. However, the business must seek and obtain the necessary approvals from ASIC prior to recommencing operations.

Background: 
Since issued in 2003, the licensee has been registered as CCZ Statton Pty Ltd, CCZ Statton Equities Pty Ltd and CCZ Equities Australia Pty Ltd.