Australia financial regulator Australian Securities & Investments Commission (ASIC) has announced that Pedro Eduardo Sasso, the director of Maxi EFX Global AU Pty Ltd (EuropeFX), has been banned by ASIC from being a director of or controlling an entity that carries on a financial services business.
EuropeFX was the corporate authorised representative (CAR) of former Australian financial services licensee, Union Standard International Group Pty Ltd (USGFX), which is now in liquidation.
EuropeFX offered retail clients access to over-the-counter (OTC) derivative products issued by USGFX, including contracts-for-difference (CFDs).
ASIC found that it has reason to believe Mr Sasso is not competent to act as an officer of a financial services business nor a fit and proper…
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