Affects: FXCM clients and prospects affected by the entity, jurisdiction or permission described
ASIC issued an interim stop order against FXCM Australia's CFD distribution after objecting to a target-market determination that included investors with a 'medium risk appetite'. The order prevented new retail CFD issuance and account opening while allowing existing clients to close positions.
Key points
- The action concerns FXCM Australia's target-market and distribution obligations.
- It restricted new retail business rather than forcing existing positions to remain open.
What this means
FXCM clients and prospects affected by the entity, jurisdiction or permission described
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Editorial note
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