Australia cancels credit licenses of seven entities

They failed to be a member of AFCA, or failed to lodge compliance certificates, amongst other reasons.

The Australian Securities and Investments Commission (ASIC) has cancelled the credit licenses of seven entities and suspended one license.

Between 24 March and 11 July 2025, ASIC cancelled or suspended the credit licenses of: 

• Capital House Pty Ltd – licence cancelled 11 July 2025
• David Anthony Ross – licence suspended 4 June 2025
• Glove Finance Pty Ltd – licence cancelled 25 March 2025
• JTan Pty Ltd – licence cancelled 31 March 2025
• M&H Pty Ltd – licence cancelled 3 July 2025
• Oz Finance Professional Pty Ltd – licence cancelled 2 April 2025
• Peppermint Loans Pty Ltd – licence cancelled 27 June 2025, and
• Sheree Nicole Becker – licence cancelled 27 June 2025.

These licensees have varyingly failed to be a member of the Australian Financial Complaints Authority (AFCA), failed to lodge annual compliance certificates on time, failed to pay industry funding levies owed to ASIC, and ceased to engage in credit activities.

Licensees are required by law to be a member of AFCA. AFCA membership gives consumers access to a free, fair, and independent dispute resolution scheme if a complaint cannot be resolved internally by a licensee.

AFCA works with ASIC to identify credit licence holders that do not maintain AFCA membership, it said.

ASIC has the power to cancel a credit license is a credit licence contravened its general conduct obligations under section 47 of the Credit Act of Australia.