The Australian Securities and Investments Commission (ASIC) is the financial regulatory authority of Australia. If you are thinking about trading with a Forex broker based in Australia then check ASIC's Australian Financial Services licensee register to ensure that the company holds an Australian Financial Services license (AFSL).
You can also check ASIC's List of Unlicensed Companies to identify companies ASIC has already black listed. This list is similar to FINMA's Black List and FSA's List of Unauthorized Firms.
Protect yourself.
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Last week we published a link to FINMA's Black List which includes companies and persons who are conducting business in Switzerland without FINMA authorization.
We began a project to check to Forex providers in our database against FINMA's list and now we are moving on to the UK's Financial Services Authority (FSA) list of unauthorized firms.
If you are an investor, you should be aware that the Financial Ombudsman Service and the Financial Services Compensation Scheme are not available if you deal with an unauthorized company or individual. To find out whether a company or individual is authorised, go to the FSA Register Check Service or review the FSA List of Unauthorized Firms.
To check to see which regulatory authority monitors firms in your country, check our list at http://www.forexturtle.com/RegulatoryAuthority.aspx.
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The FINMA Black List shows companies and persons who seem - due to their activities in or from Switzerland, or based on the description of their purpose according to the entry in the commercial register – to perform activities that fall under FINMA's supervision without possessing the necessary authorization to do so.
Inclusion on the FINMA Black List does not necessarily mean that the company is performing an illegal activity; however, investors should be made aware that the companies listed do not have authorization from FINMA.
The list contains the names of the companies and persons in question, their date of inclusion and any other information that may help to protect investors. Companies and persons will be removed from the list as soon as the necessary investigations have been completed and any changes that may be required have been made.
You can view the full list at FINMA'S Unauthorized Institutions (Black List) page.
We are currently checking the Forex providers in our database against the list and will be updating their records to reflect their status.
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