Australian Securities and Investments Commission (ASIC) suspends Navigate Global Payments Pty Ltd's Australian Financial Services (AFS) licence。

The suspension will last until October 18, 2023 and was implemented after the company entered voluntary custody on June 30, 2023.。

On 30 June 2023, Nick Combis of Vincent Chartered Accountants was appointed Voluntary Administrator of Navigate。On the same day, David Hardy, Sarah Seeckts and Ryan Eagle of KPMG were appointed receivers and managers of Navigate.。

ASIC encourages Navigate's customers to carefully monitor and follow updates from Navigate as well as administrators, recipients, and managers。

Navigate may apply to the Administrative Appeals Tribunal for review of ASIC's decision。