ASIC obtains freezing order against forex business
The corporate regulator has obtained interim injunctions against Gallop International Group and Gallop Asset Management on suspicion the businesses were operating without an AFSL.
The injunctions will see the bank accounts held by the two businesses and Mr Wang frozen and the businesses unable to carry on without a licence, ASIC said.
The regulator said its investigation is “continuing”, and the injunctions will remain in force until “further order”.
Proceedings for further orders have been listed for 23 November 2017.