The company, which never actually traded in Forex, was stricken off from the list of New Zealand's Financial Service Providers today.
Read moreThe conduct of one of the traders employed at the firm breached the market manipulation prohibitions stated in the Securities Markets Act 1988.
Read moreNXT Market now allows companies to raise capital by listing publicly, positioning itself at small to mid-sized businesses with expected market capitalization of $10 to $100 million and a minimum capital raising of $5 million, representing a boon for APAC focused retail FX firms
Read moreThe receivers of the brokerage report that around NZ$9 million (US$6.3 million) were deposited into accounts of BlackfortFX (Arena Capital).
Read moreThe Financial Markets Authority today started procedures for striking off the troubled FX broker from the list of Financial Service Providers (FSP).
Read moreRepresentatives of KordaMentha say they have secured all assets of the troubled New Zealand FX broker and are now trying to get in touch with investors.
Read moreThe decision follows the issue of asset preservation orders over the assets of the FX broker amid regulatory concerns the funds of clients could be at risk.
Read moreNew Zealand's financial regulator confirmed this morning it is concerned that investor funds might be at risk.
Read moreSo far this year the FMA has removed 23 entities from the register. The FMA has also taken action to prevent a further 20 firms from completing registration on the FSPR, following on from the 226 firms which New Zealand's authorities removed in its inaugural stages three years ago
Read moreThe website of the New Zealand-registered retail FX broker went dysfunctional this morning, less than a week after a director confirmed that the company was unable to meet its obligations to clients.
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