Australian Watchdog Confirms Voluntary Suspension of FXTG's Licence
Posted: Tue Feb 09, 2016 11:12 am
Australian Securities and Investments Commission (ASIC) announced today that Forex TG Pty Ltd (FXTG) has voluntarily requested that ASIC temporarily suspend its Australian Financial Services (AFS) licence. The move is meant to provide the brokerage with time to restructure, re-brand and to “ensure compliance with its regulatory obligations after changes in ownership, management and strategy.”
As first reported by Finance Magnates, the current owner of FXTG, Stavro D’Amore, took over the firm from missing UTrade CEO, Aviv Talmor. D’Amore commented: “I have no dealings with any liquidators or Aviv, the company has been mine since 4 November 2015 and ASIC records ... (read more)