Suspension of the Investment Dealer (Currency Derivatives Segment) Licence and the Investment Dealer (Full Service Dealer excluding underwriting) Licence and Global Business Licence of FX Primus Limited
Notice is hereby given in accordance with Section 27 (1) and 74(6)(a) of the Financial Services Act 2007 (the ‘Act’) that the Investment Dealer (Currency Derivatives Segment) Licence, the Investment Dealer (Full Service Dealer excluding underwriting) Licence and the Global Business Licence of FX Primus Limited (‘FXP’) have been suspended with immediate effect.
FXP has as registered address: NightyEast Corporate (Mauritius) Ltd, Ebene House, 3rd Floor, 33 Cyber City, Ebene, Mauritius.
The Financial Services Commission, Mauritius (the ‘Commission’) has taken this decision on the grounds that FXP has, inter alia, failed to comply with:
(i) the specific provisions provided under the Act;
(ii) the Code on the Prevention of Money Laundering and Terrorist Financing; and
(iii) the licensing conditions attached to its licences.
In accordance with Sections 27(5) and 74(3) of the Act, FXP shall cease to carry out the activities authorised under its licences. However, FXP remains subject to the obligations of a licensee and to the directions of the Commission until the suspension of the licences is cancelled.
Financial Services Commission, Mauritius
28 May 2015
1 comment:
FSC doesnt understand forex brokers and Mauritius is not there jurisdiction to do this business which is closely linked with the "Washing Machine" cycle.
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