As we have already written, the USG group has many regulations of the financial authorities. Union Standard International Group Pty Ltd (USG AU) is regulated by the Australian Securities and Investment Commission (ASIC) under license number 302792; Union Standard International Group Limited (USG UK) is authorized and regulated by the Financial Conduct Authority (FCA) under reference number 798776; Union Standard International Group Ltd (USG Global) is licensed to deal in securities by VFSC under register number 41706. These licenses allow it to conduct various financial services, including receiving, transmitting, and executing customer orders.
In early September 2020, information appeared about the bankruptcy of the Australian division of the company – Union Standard International Group Pty Ltd. Earlier the ASIC has suspended license of the Australian division of the USGFX because the division is under external administration. In July 2020 BRI Ferrier (NSW) Pty Ltd were appointed as administrators of Union Standard. At this stage, no new account, new deposit, withdrawals, or new positions will be taken. Existing client open positions will be set as “close only”.
In December of 2019 ASIC revealed that it was acting against Maxi EFX Global AU Pty Ltd (trading as EuropeFX) and BrightAU Capital Pty Ltd (trading as the Australian arm of TradeFred). Both companies are USGFX representatives.