Union Standard International Group Pty Ltd
These data are then aggregated and made available over this or other of our website. ASIC alleges that Union Standard failed to comply with its obligation to do all things necessary to ensure that the financial services covered by its licence were provided efficiently, honestly and fairly (s912A of the Corporations Act).
Peter KrejciandAndrew Cumminswere appointed Joint and Several Voluntary Administrators of Union Standard International Group Pty Ltd on 8 July 2020. if you have already complained directly to your financial firm through its internal dispute resolution process, within two years of getting a response from your financial firm through that process. Our services are free to consumers, and consumers do not need to be represented to lodge or pursue a complaint at AFCA. Consumers can contact AFCA for assistance with submitting a complaint. Consumers who have a complaint about the actions of a current AFCA member can lodge a complaint against the financial firm. At this time, despite the cancellation of its license and insolvency status, Union Standard International Group Pty Ltd is a current member of AFCA.
We provide consumers and small businesses with fair, free and independent dispute resolution for financial complaints. Please be advised we cannot provide you with financial or legal advice. However, we may be able to refer you to a community legal centre or financial counselling service if you need help. If you want to find out if a particular company is a current AFCA member, you can search on ourwebsiteor call us on . We suggest any consumer with a claim contact the liquidator now and lodge a proof of debt and provide information to support their claim, such as the information already provided to AFCA. If you have an outstanding claim against Union Standard International Group Pty Ltd you can directly engage with the liquidator and lodge a proof of debt with supporting information. On 8 July 2020, Peter Paul Krejci & Andrew John Cummins of BRI Ferrier were appointed as administrators of Union Standard International Group Pty Ltd .
On 3 September 2020, they were subsequently appointed Joint and Several Liquidators of the Company. If you are owed funds from the Company, you may be a creditor of the Company and entitled to claim in the Liquidation. To evidence your claim in the liquidation, please attach documentation to the POD such as deposits forms, MT4 account balances, etc. To lodge your claim, please return the completed POD form by email to Peter Krejci and Andrew Cummins were appointed Joint and Several Voluntary Administrators of Union Standard International Group Pty Ltd on 8 July 2020.
If you believe that a notice is being incorrectly reported then contact us, provide the necessary documentation and we will remove the notice from our database. Union Standard was a Sydney-based retail over-the-counter derivatives issuer offering clients opportunities to trade in margin foreign exchange contracts and contracts-for-difference . Union Standard and its former corporate authorised representatives, EuropeFX and TradeFred operated under Union Standard’s Australian financial services licence . In December 2019, ASIC obtained asset restraint orders in the Federal Court against EuropeFX and TradeFred to protect customers’ funds while an investigation was underway. Union Standard gave an undertaking to the Court to keep specified monetary amounts in a separate bank account (19-373MR). On 8 July 2020, Union Standard entered into voluntary administration; liquidators were appointed on 3 September 2020. We note that the Australian Securities and Investments Commission (“ASIC”) has pursued an investigation and legal proceedings against the Company since late 2019.
ASIC has commenced civil penalty proceedings in the Federal Court against Union Standard International Group Pty Ltd and its former corporate authorised representatives, Maxi EFX Global AU Pty Ltd and BrightAU Capital Pty Ltd . Please note the date of issue and use the internal search function on the site to check for other media releases on the same or related matters. a method by which the person, proxy or attorney may be contacted for the purposes of the meeting. At USGFX, we are committed to building long term relationships with our clients. We operate on trust, transparency and respect, and it is with these values & principles that we envision becoming the most trusted and respected forex broker in the world. Liability limited by a scheme approved under Professional Standards Legislation.
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It also brings Australian practice into line with protections in force in comparable markets elsewhere (20-254MR). ASIC has made a product intervention order imposing conditions on the issue and distribution of contracts for difference to retail clients.
In July 2020, ASIC suspended the AFS licence of Union Standard and in September 2020, ASIC cancelled its AFS licence (20-216MR). ASIC’s order strengthens consumer protections by reducing CFD leverage available to retail clients and by targeting CFD product features and sales practices that amplify retail clients’ CFD losses.
Liquidators Have Been Appointed
See Company details for the date of appointment and the section of the Act under which the administrator was appointed. We try to keep this information correct and up-to-date, but it is not the primary source, and the company registry should always be referred to for definitive information. Therefore we cannot make any promises as to the quality of company data. The information provided on nzcompany.org is all collected from official company registers and other public data sources. All the data are provided as a guideline and have been prepared only for information purposes only. If you are experiencing financial distress or if you need any assistance with an insolvency related matter contact us for an obligation free discussion on how we can help.
Insolvency Notices Pty Ltd and/or Jamieson Louttit & Associates do not warrant the accuracy of the information that is published on this website. All information is taken from publicly available sources and we have taken reasonable steps in verifying the accuracy of that information. Insolvency Notices Pty Ltd and/or Jamieson Louttit & Associates do not accept any liability if any insolvency notice has been reported incorrectly by the person creating the notice whether that is a liquidator or voluntary administrator. We also do not accept any liability if the liquidation in question has since been terminated.
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ASIC has since cancelled the Company’s AFSL, and therefore can no longer offer financial services or products to clients. Each entity is registered with Legal Entity Identifier , entity name, status, address, etc. NZL Business is a growing business directory network providing listing and information of businesses and companies operating in New Zealand at no cost to the respective business owners or site visitors. We are constantly growing, and is continously crawling the internet to populate information which we find maybe useful to you.
- ASIC has commenced civil penalty proceedings in the Federal Court against Union Standard International Group Pty Ltd and its former corporate authorised representatives, Maxi EFX Global AU Pty Ltd and BrightAU Capital Pty Ltd .
- Peter KrejciandAndrew Cumminswere appointed Joint and Several Voluntary Administrators of Union Standard International Group Pty Ltd on 8 July 2020.
- If you have an outstanding claim against Union Standard International Group Pty Ltd you can directly engage with the liquidator and lodge a proof of debt with supporting information.
- Union Standard and its former corporate authorised representatives, EuropeFX and TradeFred operated under Union Standard’s Australian financial services licence .
- if you have already complained directly to your financial firm through its internal dispute resolution process, within two years of getting a response from your financial firm through that process.
- We provide consumers and small businesses with fair, free and independent dispute resolution for financial complaints.
ASIC alleges Union Standard provided financial services including trading in margin FX products to clients in China in circumstances where it was illegal for Chinese residents to deal or trade in those foreign exchange contracts. ASIC alleges Union Standard’s conduct placed its China-based clients at risk of contravening Chinese law, and thereby exposed them to potential administrative and criminal penalties under Chinese law. Although the licence is cancelled, ASIC has used its power under section 915H of the Corporations Act to allow the liquidators to conduct certain necessary activities under the licence until 18 December 2020. ASIC also advised in itsstatementof 18 September 2020 that it has cancelled USG’s financial services licence on 14 September 2020 under section 915B of the Corporations Act . If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. How ASIC regulates financial services and products and what to do when you have a problem with your finances. Information and guides to help to start and manage your business or company.