FX/CFD Broker Probis Unveils Insolvency, with AFS Licence Suspended

The Australian Securities and Investments Commission announced today the suspension of the  Australian financial services (AFS) licence of the FX and CFD broker Probis Financial Services Pty Ltd (Probis).

Probis is a Sydney-based financial services company and asset manager whose primarily focus is on managing fixed income investments and offering trading and investing solutions to both retail and institutional clients.

The watchdog explained that it took this move because Probis was placed into voluntary administration on 17 July 2023. On that day, Richard Albarran, Brent Kijurina, Cameron Shaw and Aaron Dominish, of Hall Chadwick, were appointed as voluntary administrators of the brokerage.

The ASIC noted that the suspension of AFS license requires Probis to continue as a member of Australian Financial Complaints Authority, with arrangements for compensating retail clients in place until the end of 30 October 2023.

This follows Fazzaco's reporting last week that corporate bond trading platform LedgerEdge​ has gone into administration just a year after its live launch, citing "extremely challenging funding environment".