Japan’s Financial Services Agency (FSA) has earlier today updated its list of businesses offering derivatives trading services without registration in Japan.
Amid the latest entries is FX broker Forex TG Pty Ltd (FXTG). The company is licensed and regulated by the Australian Securities and Investments Commission (ASIC), but the Japanese regulator finds this insufficient to permit targeting of Japanese investors.
The watchdog notes that under the Japanese laws, any company wishing to offer derivatives trading services in Japan, should have the proper authorization from the Japanese regulators. The requirement covers businesses that are registered overseas and target Japanese clients online.
This is not the first time that Australian Forex brokers face regulatory challenges in Japan. Last year, Pepperstone had to cease providing financial services to Japanese clients after ASIC found that the broker lacked these operations were not licensed by the Japanese Financial Services Agency.
To view the full Warning List on FSA’s website, click here.
To view the particular warning regarding FXTG, click here.