28/05/ · The Australian Securities and Investments Commission (ASIC) announced this Thursday that it has suspended the Australian financial services (AFS) license of Forex Plus Australia Pty Ltd (Forex Plus) and canceled the AFS license of Squareknot Pty blogger.comted Reading Time: 2 mins Use 1 Hour Charts To Identify LONDON FOREX ORDER FLOW The Best Forex Intraday Trading System that actually works. 84% WINRATE Live Forex Trading - EURUSD, AU Develop with FXPlus, one of the most successful career development institute in Australia. Explore, dream and discover your business opportunities in Australia. Plan with FXPlus, one of the most professional business consultant in Australia
ASIC Suspends AFSL of Forex Plus for Six Months | Finance Magnates
The Australian Securities forex plus australia pty ltd Investment Commission, or ASIC, has made an announcement on Thursday.
This announcement is in regards to it suspending the Australian Financial Services AFS license of Forex Plus Australia Pty Ltd Forex Plus. Furthermore, the regulator has canceled the AFS license of one Squareknot Pty Ltd. ASIC had suspended the AFS license for Forex Plus for the span of six months.
According to the Australian watchdog, this license was suspended due to ASIC releasing that the company had not been providing financial services to the public at large for some time, now.
The Corporations Act allows the Australian regulator to suspend or outright cancel the AFS license of a company, should the license holder in particular outright cease providing financial services within the country. Forex Plus had been authorized to give advice and make a market for forex contracts, forex plus australia pty ltd, aiming at wholesale clients in particular. Back in February of this year, ASIC was granted a new power, allowing it to cancel both the AFSL, as well as the Australian Credit Licenses of licensees, should they not begin operations within six months of the license itself being granted.
Another nail in the coffin came from ASIC, stating that Forex Plus had failed to lodge its audited accounts to the regulator for a few years, now. Even so, the company itself has the right to appeal against the decision ASIC had made, presenting it to the Administrative Appeals Tribunal.
According to the regulator, the company has indicated to the watchdog that it may very well renew its provision of financial services. However, for that to occur, forex plus australia pty ltd, Forex Plus must first lodge its audited accounts forex plus australia pty ltd this suspension period, should it plan to renew its provision of financial services, according to ASIC.
Squareknot, forex plus australia pty ltd, however, had its license outright canceled by ASIC. According to the regulator, the Sydney-based financial services provider had failed to meet the base level of financial requirements it needed to continue holding the license.
The company had initially gained the license in December ofbeing authorized to deal in and offer general advice regarding securities for wholesale clients. With any luck, it will do the country, and more importantly, its investors, more good than evil. Copyright © Cryptovibes, forex plus australia pty ltd.
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Forex Plus has AFSL Suspended by ASIC for Six Months by Ali Raza. May 28, in FX Industry. Reading Time: 4min read.
Suspension Due To Lack Of Using Licenses ASIC had suspended the AFS license for Forex Plus for the span of six months. New Powers, New Consequences Back in February of this year, ASIC was granted a new power, allowing it to cancel both the AFSL, as well as the Australian Credit Licenses of licensees, should they not begin operations within six months of the license itself being granted.
Squareknot Fails To Deliver Squareknot, however, had its license outright canceled by ASIC. Tags: ASIC f x Forex Market Trading. Related Posts. Crypto news.
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Forex Plus Australia Pty ltd AFS License Number Name Forex Plus Australia Pty ltd ABN/ACN/ARBN Licensee issued March 10, Address North Sydney, , NSW. Licence conditions. This licence authorises the licensee to carry on a financial services business to: provide financial product advice for the following classes of financial products: foreign exchange Develop with FXPlus, one of the most successful career development institute in Australia. Explore, dream and discover your business opportunities in Australia. Plan with FXPlus, one of the most professional business consultant in Australia 28/05/ · This announcement is in regards to it suspending the Australian Financial Services (AFS) license of Forex Plus Australia Pty Ltd (Forex Plus). Furthermore, the regulator has canceled the AFS license of one Squareknot Pty Ltd. Suspension Due To Lack Of Using Licenses. ASIC had suspended the AFS license for Forex Plus for the span of six months. According to the Australian watchdog, this Estimated Reading Time: 2 mins
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