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AFS

It's there. In plain sight. In the body of the press release from the Australian Securities and Investment Commission. It's a statement that ASIC, having been found, damned by its own words and those of the industry, wanting in its supervision of the Financial Services Landscape, is taking the gloves off. It's not going to stand for any more poor compliance. It's going to make "ongoing efforts to improve standards across the financial services industry." So this case is going to be spectacular, isn't it?

BIScom Subsection: 

ASIC has cancelled the Australian financial services (AFS) licence of Winley Insurance Group Pty Ltd (Winley), a Perth-based general insurance brokerage for failing to comply with a number of its key obligations as a financial services licensee, in particular failures to file regulatory reports as required.