New Zealand’s FMA Lifts License Suspension on AxiCorp

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The New Zealand Financial Markets Authority (FMA) has lifted the suspension of the derivative license required of AxiCorp Financial Services Pty Limited, which provides trading services of FX and CFDs under the Axi brand.

Although the regulator made the announcement of its decision on Thursday, the cancellation of the broker’s suspension took effect on December 2.

Now, the Australian-based broker can once again operate in neighboring New Zealand and offer financial derivatives.

Although operating since 2007 with permits from the Australian regulator, AxiCorp received its New Zealand license in June 2018. However, its Kiwi license was suspended only a year later by the FMA, citing “material breaches” of local regulations.

The FMA at the time claimed that the broker provided services without compliant Product Disclosure Statement or Disclose registration entry, did not file audit financial statements, and did not receive an insurance commitment with a qualified auditor before the mandatory deadline.

“AxiCorp has since demonstrated to the FMA that it has taken appropriate steps to address the material violations and that it has appropriate systems, processes and resources in place to ensure compliance with the FMC Act and to effectively perform services under the license,” the FMA said. stated in his last announcement.

Global Broker

In addition to Australia and New Zealand, Axi also has a significant global presence as a broker. It is also approved by regulators in the United Kingdom, the United Arab Emirates, and St Vincent and the Grenadines.

Financial Tycoons recently reported that British operations of Axi saw a 46 per cent jump in its revenue in the financial year 2021, making its presence more significant in the country. Meanwhile, the broker is also expanding its services with the launch of copywriting services and even expanding its product line.

The New Zealand Financial Markets Authority (FMA) has lifted the suspension of the derivative license required of AxiCorp Financial Services Pty Limited, which provides trading services of FX and CFDs under the Axi brand.

Although the regulator made the announcement of its decision on Thursday, the cancellation of the broker’s suspension took effect on December 2.

Now, the Australian-based broker can once again operate in neighboring New Zealand and offer financial derivatives.

Although operating since 2007 with permits from the Australian regulator, AxiCorp received its New Zealand license in June 2018. However, its Kiwi license was suspended only a year later by the FMA, citing “material breaches” of local regulations.

The FMA at the time claimed that the broker provided services without compliant Product Disclosure Statement or Disclose registration entry, did not file audit financial statements, and did not receive an insurance commitment with a qualified auditor before the mandatory deadline.

“AxiCorp has since demonstrated to the FMA that it has taken appropriate steps to address the material violations and that it has appropriate systems, processes and resources in place to ensure compliance with the FMC Act and to effectively perform services under the license,” the FMA said. stated in his last announcement.

Global Broker

In addition to Australia and New Zealand, Axi also has a significant global presence as a broker. It is also approved by regulators in the United Kingdom, the United Arab Emirates, and St Vincent and the Grenadines.

Financial Tycoons recently reported that British operations of Axi saw a 46 per cent jump in its revenue in the financial year 2021, making its presence more significant in the country. Meanwhile, the broker is also expanding its services with the launch of copywriting services and even expanding its product line.

Source

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