Last updated: 10 January 2019

ASIC has taken action against the financial firm

The Australian Securities & Investment Commission (ASIC) cancelled Berndale Capital Securities Pty Ltd’s (Berndale) Australian Financial Services Licence (290108) (AFSL) in November 2018. 

See ASIC’s media release.

ASIC’s investigations into Berndale are ongoing

AFCA is aware that ASIC has obtained freezing orders from the Federal Court against Berndale and its principals. This means Berndale’s bank accounts are now frozen and it is unable to sell or otherwise deal with its property without ASIC’s consent.

Berndale remains a current member of AFCA

Berndale remains a current member of AFCA.  This arrangement will continue until at least 23 May 2019.

What this may mean for complaints

Consumers can continue to lodge complaints about Berndale’s conduct and services with AFCA.

AFCA will continue to consider and handle complaints against the financial firm as timely and efficiently as possible.

At this stage, given the current ASIC investigations and the freezing of Berndale’s assets, we are unable to advise about the status of client’s funds and return of funds to clients or other compensation that may be payable. Possible outcomes may also include Berndale being placed into liquidation and/or receivership. We are currently investigating any professional indemnity insurance cover that Berndale may have.

We will keep you updated

AFCA will keep you up to date as we become aware of new information about Berndale that may affect complaints.

Please check this webpage regularly.

Any questions?

If you have any questions or want more information about lodging a complaint, please