ASIC Seeks Orders to Wind up Forex Broker Prospero Markets

Following the suspension​ of the Australian financial services (AFS) licence of Prospero Markets Pty Ltd in December 2023, the Australian Securities and Investments Commission (ASIC) has applied to the Federal Court to wind up the retail OTC derivative issuer.

According to the ASIC's statement, former officers and responsible managers of Prospero Markets was charged with money-laundering offences in October 2023 relating to the Changjiang Currency Exchange money remitting chain.

The regulator has applied for the court to appoint Andrew Cummins, Jonathon Keenan and Peter Krejci, of BRI Ferrier, as liquidators of Prospero, as it considers that the best way to secure the efficient return of funds to clients is the appointment of liquidators.

Shortly before, the ASIC has revoked the AFS licence of NextGen Financial Group Pty Ltd​.