ASIC commenced proceedings in the Federal Court of Australia against the Mayfair group of companies. More information about this is below.
Making a complaint to AFCA about Mayfair group of companies
The Mayfair group of companies are not members of AFCA and AFCA complaints cannot be made directly against them. However, AFCA member Quattro Capital Group Pty Ltd authorises some people and companies related to the Mayfair group.
AFCA can consider a complaint about the action of a member or its authorised representative, provided that the conduct occurred during the period of authorisation.
To see Quattro Capital Group Pty Ltd’s authorised representatives and periods of authorisation, you can search here.
Consumers who believe they have received incorrect or misleading information about a Mayfair product from an authorised representative of Quattro Capital Group Pty can lodge a complaint against Quattro Capital Group Pty Ltd.
Lodging an AFCA complaint
If you want to find out if a particular company is a current AFCA member, you can search on our website or call us on 1800 367 287.
AFCA is an independent dispute resolution service. Our services are free to consumers, and consumers do not need to be represented to lodge or pursue a complaint at AFCA. Consumers can contact AFCA for assistance with submitting a complaint.
AFCA can generally only consider your complaint if it is made to AFCA within the earliest of two timeframes, either:
- six years after you first became aware, or ‘should reasonably have become aware’, that you suffered the loss you want to complain about; or
- if you have already complained directly to your financial firm through its internal dispute resolution (IDR) process, within two years of getting a response from your financial firm through that process.
ASIC action against Mayfair group of companies
On 3 April 2020, ASIC commenced proceedings in the Federal Court of Australia against the Mayfair group of companies. On 16 April 2020, the Federal Court made interim orders restraining Mayfair group of companies from promoting their debenture products and prohibiting the use of specific words and phrases in their advertising. The matter has been set down for hearing commencing on 28 September 2020.
The Mayfair group of companies (all authorised representatives of Quattro Capital Group Pty Ltd) involved in the proceedings are:
- Mayfair Wealth Partners Pty Ltd t/a Mayfair Platinum
(now known as Australian Income Solutions Pty Ltd)
- M101 Holdings Pty Ltd
- M101 Nominees Pty Ltd and
- Online Investments Pty Ltd t/a Mayfair 101
(collectively referred to as Mayfair group of companies)
More details of ASIC’s action are available here: https://asic.gov.au/about-asic/news-centre/key-matters/asic-investigation-into-mayfair-101mayfair-platinum/
Provisional liquidators have been appointed to M101 Nominees Pty Ltd
On 14 August 2020, the Federal Court appointed Said Jahani and Phillip Campbell-Wilson of Grant Thornton as provisional liquidators of M101 Nominees Pty Ltd. Creditors who have queries relating to M101 Nominees Pty Ltd can contact M101@au.gt.com.
We will keep you updated
AFCA will keep you up to date as we become aware of new information about Mayfair group of companies that may affect complaints.
If you have any questions or want more information about lodging a complaint please
- call: 1800 931 678
- email: email@example.com