The New Zealand market regulator has revealed lifting the suspension on the derivatives issuer licence of AxiCorp Financial Services Pty Limited. The suspension lift is effective since 2 December 2021.
FMA suspended AxiCorp’s derivatives issuer licence in June 2019. As a reason for the suspension, the New Zealand watchdog quoted material breaches of the Financial Markets Conduct Act 2013.
The regulator noted that the company has taken steps to address and remedy these breaches.
The official announcement stated:
AxiCorp has since demonstrated to the FMA that it has taken adequate steps to address the material breaches and that it has adequate systems, processes and resources in place to ensure compliance with the FMC Act and to effectively perform services under the licence.
Earlier in March 2021, ASIC placed additional licence conditions on AxiCorp to ensure AxiCorp has adequate compliance arrangements in place for its OTC derivatives business.
