The regulator has cancelled the Australian Financial Services licence (AFSL) and credit licence of Ultiqa Lifestyle Promotions Limited.
Ultiqa Lifestyle Promotions, which is in liquidation, has seen its AFSL and credit licence cancelled following an Australian Financial Complaints Authority (AFCA) determination.
On 28 June 2024, AFCA made a determination against Ultiqa, which it failed to pay. As a result, the Compensation Scheme of Last Resort (CSLR) paid $19,429.60 to a person for AFCA’s determination on 2 October 2024 and notified ASIC.
This led to Ultiqa’s AFS and credit licences being cancelled on 16 October 2024.
“Where the CSLR pays compensation to an eligible consumer in relation to an AFCA determination and notifies…
