ASIC Suspends Prime Value Asset Management’s AFS Licence Over Reporting Failures | LeapRate
Australia’s corporate regulator has suspended the Australian financial services (AFS) licence of Prime Value Asset Management Limited (Prime Value) until 7 August 2026, citing the firm’s failure to meet key statutory obligations.
According to a statement released by the Australian Securities and Investments Commission (ASIC) on 17 July 2026, the suspension stems from Prime Value’s failure to lodge statutory audit and financial reports for the financial years ending 2024 and 2025.
ASIC also noted that Prime Value had previously breached financial resource requirements and failed to lodge compliance plan audit reports for several of its retail schemes. Those issues, however, have since been rectified.
Under the terms of the suspension, Prime Value is barred from issuing interests in its managed investment schemes to new investors. The firm may still carry out services necessary for the day to day operation of its existing schemes, including managing reinvestment of income distributions for current investors. Prime Value remains obligated to comply with its licence conditions throughout the suspension period.
The firm has the option to seek a review of ASIC’s decision through the Administrative Review Tribunal.
Prime Value, which holds AFS licence number 222055, acts as the responsible entity for eight registered managed investment schemes, including the Prime Value Growth Fund and the Prime Value Emerging Opportunities Fund. The company also serves as trustee for 53 unregistered schemes and operates a wholesale managed discretionary account service.
