UPDATE: Direct FX may cancel derivatives licence after temporary compliance rule breach

Thu, 14 Jan 2016

(Adds comment from FMA in sixth paragraph) By Jonathan Underhill Jan. 14 (BusinessDesk) - Direct FX, a foreign exchange services company controlled by managing director Andrew Isbister, is considering cancelling its Derivatives Issuer Licence after a temporary breach of compliance rules covering the tiny portion of forward contracts it handles. The company's March 31, 2015, financial statements include a note that Direct FX didn't meet a condition of its licence with the Financial Markets Authority requiring it to maintain net tangible...

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