ASIC bans former financial adviser Rhys Reilly for 10 years and suspends Conexus Group’s AFS licence

26-073MR

licence action10 Apr 2026

Respondent

Conexus Group Pty Ltd

Facts

ASIC has banned former financial adviser Rhys James Rolls Reilly from providing financial services for 10 years and has suspended the Australian financial services (AFS) licence of Conexus Group Pty Ltd (Conexus) until 31 July 2026.

Outcome

ASIC suspended the AFS licence of Conexus Group Pty Ltd until 31 July 2026 (effective 8 April 2026; announced 2026-04-10), having reason to believe it was likely to contravene its s 912A obligations while Rhys Reilly, its sole director (banned for 10 years in the same release), continued to govern and control it. On 29 July 2026 ASIC cancelled the licence; Conexus has applied to the Administrative Review Tribunal for review. See the ASIC source for the full terms.

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Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-073mr-asic-bans-former-financial-adviser-rhys-reilly-for-10-years-and-suspends-conexus-group-s-afs-licence

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