The Australian Securities and Investments Commission has cancelled Edwards Benefits Advisors’ financial services licence.

The commission says the Sydney company failed to lodge financial statements and auditor reports and opinions over a number of years. The company also failed to inform the regulator of these licence breaches within 10 business days.

Edwards Benefits has operated since 1999 and was licensed to sell life and disability insurance, in addition to providing superannuation advice.

The regulator says it is continuing to contact licensees that have not lodged audited financial statements, and will take action against them.