After freezing its assets earlier this year, Australia financial regulator ASIC has announced that it has cancelled the Australian financial services (AFS) licence of the retail OTC derivative issuer, AGM Markets Pty Ltd. AGM’s brands include AlphaTrade Group and FirstIndex (firstindex.com). An ASIC investigation found AGM’s financial services business involved core elements of unconscionability and unmanaged conflicts of interest and followed a business model that disregarded key conduct requirements. Specifically, the AFS licence was cancelled after ASIC found AGM: • provided financial product advice about ... (full story)