Another AAIG company has just been wound up and received a $3.1M fine from ASIC.
A letter went out to ascot account holders late 2023, notifying them that their account should be moved to HAL ahead of Ascot being wound up. Following the migration from Ascot to Halo HAL reported record revenue numbers. Both Ascot and Halo share the same parent company AAIG.
I hope for the sake of all holders that HAL does not meet the same fate as Ascot.
https://asic.gov.au/about-asic/news-centre/find-a-media-release/2024-releases/24-130mr-mdp-issues-infringement-notice-to-ascot-securities-for-serious-failures/
https://asic.gov.au/for-business/small-business/closing-a-small-business/illegal-phoenix-activity/
