IMG
ad

Western Union has been criticized by The Financial Markets Authority

Western Union has been criticized by The Financial Markets Authority for not having enough cash on hand to support its foreign exchange contracts.

According to the Financial Markets Authority Te Mana Ttai Hokohoko (FMA), Western Union Business Solutions (Australia), does not always maintain sufficient capital to satisfy its licensing criteria.

The FMA conducted an inquiry and discovered that, between July 2019 and June 2021, Western Union’s net tangible assets (NTA) occasionally fell below the lower of $1 million or 10% of its average revenue.

66 Views

Write a Comment

Add your comment

Your email address will not be published.

Forex Featured Brokers

RoboForex

Regulation : IFSC, CySEC
Min Deposit : 0 USD
Leverage : 1:1000
Type : STP/ECN/Market Maker

Start Trading View Profile »
AMARKETS

Regulation : FSA
Min Deposit : 0 USD
Leverage : 1:500
Type : STP/ECN

Start Trading View Profile »
FXTM

Regulation : CySEC, IFSC
Min Deposit : 5 USD
Leverage : 1:1000
Type : STP/ECN

Start Trading View Profile »
OCTAFX

Regulation : FCA, IFSA, SVG
Min Deposit : 50 USD
Leverage : 1:500
Type : ECN/NDD

Start Trading View Profile »
HFM

Regulation : CySEC, FSB, FSC, MiFID
Min Deposit : 5 USD
Leverage : 1:1000
Type : NDD

Start Trading View Profile »
FRESHFOREX

Regulation : IBC
Min Deposit : 1 USD
Leverage : 1:2000
Type : STP/ECN

Start Trading View Profile »