The Australian Securities & Investment Commission (ASIC) announced cancelling the Australian financial services (AFS) of Sydney-based financial services provider Squareknot Pty Ltd, effective 6 May 2020.
ASIC found that Squareknot did not meet the base level financial requirements of its licence.
The Australian regulator also suspended the AFS licence of New South Wales-based financial services provider Forex Plus Australia Pty Ltd for a period of six months effective from 5 May 2020.