ASIC Cancels AGM Markets’ Licence Due to Unethical Conduct

[kreslik.news]

The Australian Securities and Investments Commission (ASIC) announced today that it has cancelled the Australian Financial Services (AFS) licence of AGM Markets, a global online forex broker. According to the regulator, the licence was cancelled due to “ unconscionable conduct and unmanaged conflicts of interest”.

It seems that AGM Markets made quite a few missteps in Australia, with the watchdog listing eight reasons for why the licence was cancelled. The first of these is that the broker was providing financial advice for securities and superannuation interests when it did not have the appropriate licence to do so. ... (read more)