Australia cancels licence of Queensland’s Thistle Financial Group

It has reportedly ceased to carry on a financial services business.

The Australian Securities and Investments Commission (ASIC) has cancelled the license of Thistle Financial Group effective 7 May 2025.

The Queensland-based financial services provider has reportedly ceased to carry on a financial services business, according to ASIC.

ASIC may suspend or cancel an AFS licence if the licensee ceases to carry on a financial services business under section 915B of the Corporations Act.

Thistle Financial Group has held an AFS Licence since 22 July 2016.

It was authorised to carry on a financial services business to deal and provide financial product advice to both retail and wholesale clients.

Thistle Financial Group would have the right to appeal ASIC’s decision.