Australia's corporate regulator has revoked the financial services licence of New South Wales adviser Kyle Clifford Frost, tightening enforcement against breaches of licensee obligations. The cancellation takes effect on 15 October 2026 and covers a licence that had allowed Frost to advise on and deal in financial products for retail and wholesale clients.
Highlights
- ASIC cancelled Kyle Clifford Frost's Australian financial services licence 543780 for failing to comply with obligations under the Corporations Act 2001.
- Breaches included non-cooperation with the Australian Financial Complaints Authority, financial reporting failures, unpaid statutory levies, and unmet regulatory reporting requirements.
- Frost, licensed since 15 November 2022 to advise and deal for retail and wholesale clients, retains the right to seek review by the Administrative Review Tribunal.
Licence breaches and cancellation grounds
As reported by ASIC, the regulator cancelled Frost's Australian financial services licence, number 543780, after finding he failed to meet several obligations under the Corporations Act 2001.ASIC said the breaches included failures tied to cooperation with the Australian Financial Complaints Authority, financial reporting, payment of statutory levies and regulatory reporting requirements.
The regulator may suspend or cancel an AFS licence under section 915C of the Corporations Act 2001 when a licensee does not comply with obligations under the law or when certain statutory grounds are established.
Review rights and business impact
Frost has the right to apply to the Administrative Review Tribunal for a review of ASIC's decision.He has held AFS licence number 543780 since 15 November 2022. The licence authorised him to provide financial product advice and deal in financial products for both retail and wholesale clients.
We previously covered the launch of Menara Asia’s Menarabena platform, a B2B marketplace aimed at digitising Malaysia’s construction supply chain while emphasising certification and compliance documentation for building materials. That article explained how the initiative is designed to help contractors and suppliers streamline procurement without replacing existing approvals, and how collaboration with CIDB supports product certification and standards oversight.
Latest ASIC News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
