By Staff Writer
Australia’s financial regulator, ASIC, has imposed new licence conditions on Learn To Trade Pty Ltd after repeated failures to meet financial reporting and compliance obligations under its Australian Financial Services (AFS) licence.
The company, which provides trading and investment education to both retail and wholesale clients, failed to lodge its annual financial statements and audit reports for both 2023 and 2024 on time, which is a key requirement for monitoring the financial health of licensed providers.
This is not the first lapse. ASIC noted a “consistent pattern” of late lodgements going back to 2012, and the company also failed to notify the regulator after appointing a new auditor: another breach of its obligations.
As a result, Learn To Trade must now appoint an independent compliance consultant. This consultant will assess and report directly to ASIC on the firm’s systems for preparing financial statements, managing compliance, and reporting breaches. The reports will help the regulator determine whether further enforcement action is needed.
Learn To Trade has held its AFS licence since 2010, allowing it to offer financial product advice on derivatives, forex, and securities. This action serves as a reminder of ASIC’s growing focus on transparency and operational accountability within the trading education sector.
