The Australian Securities & Investments Commission (ASIC) informed on Thursday that it ordered FxPrimus not to attract Australian investors to their clients’ base as the company did not get an appropriate license (Australian financial services – AFS license) for such activity.
We have already reported last week that FxPrimus did not receive approval for an IPO on ASX.
ASIC finds problematic in relation to FxPrimus that the company already lured many Australian investors (in hundreds), website misled in the way that investors could think of FxPrimus owning the appropriate license in Australia pursuant to ASIC regulation (company already agreed to adjust this information on the website), and marketing activity of the brokerage house.
ASIC’s issue related to various FxPrimus entities as FXPrimus Australia Pty Ltd, FX Primus Group Limited and FX Primus Europe.
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