According to recent information from the Australian Financial Review (AFR), a news provider for financial and investment sector in Australia, FXPrimus did not meet conditions for the initial public offering in the country.

The Australian Securities & Investments Commission (ASIC), an Australian supervising body, has halted FXPrimus’ initiative for a potential float ($200 million) in Australia.

The brokerage house with license from Mauritius, but with CIF status from CySEC, has already kept an office in the country, in Melbourne under its FX Primus Group Ltd.

Nevertheless, ASIC does not seem to find this as a strong factor and pointed out that the company does not keep close ties to Australia.

Generally, ASIC is known that no FX broker has received license in more than two years under this watchdog and is keeping a conservative, NFA-like stance against high leverage and wider FX possibilities.

“We’re doing what we can in terms of vetting those who apply for licences in this area, particularly those that don’t have a [true] connection with Australia that are operating outside of Australia,” stated Greg Medcraft in March, Chairman of ASIC.

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