ASIC Cancels Direct FX’s Financial Licence due to Compliance Failures

[kreslik.news]

The Australian Securities and Investments Commission (ASIC) announced today that it has cancelled the Australian financial services (AFS) licence of Direct FX Trading Pty Ltd, an Australian-based forex broker.

ASIC noted in its statement that due to continued compliance failures from Direct FX, the regulator cancelled the firm’s licence earlier this month on October 8, 2018. Following the cancellation of the licence, the Supreme Court of New South Wales, a state in Australia, placed Direct FX into external administration and appointed a liquidator on October 11, 2018.

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The securities regulator originally ... (read more)