FXOpen and 5 other brokers lost their licenses!!!
The Financial Services Commission (FSC) of Mauritius revoked FXOpen and Basel Financial Firms’ licenses. In resolution of the Commission d/d May 27 it is stated that these companies are the hazard to financial reputation of Mauritius.
“The Financial Services Commission (the “Commission”) having reasonable grounds to believe that the revocation of the Global Business Licenses issued to the under mentioned companies is necessary to protect the good repute of Mauritius as a centre for financial services and to protect investors”, said the act.
Besides cancellation of FXOpen and Basel Financial Firm’s licenses, validity of licenses of such companies as AEcnFX (Mauritius) Ltd, FXMarkets Ltd, WORLD DERIVATIVES TRADERS LTD was suspended.
The Chief Executive of the Commission ordered an inquiry upon the reason of licenses suspension in order “to believe that the above companies are carrying out or are likely to carry out activities that may cause serious prejudice to the reputation of Mauritius”.
“It is good news that even regulatory authorities of offshore countries, which are know by their regulatory “dissipation”, started working on exclusion of unreliable companies from Forex field” commented this situation Francesc Riverola, the President of FXStreet.
Read More at forexfactory.com
