The board of USG UK announced that USG Group resolved on 15 August and the FCA regulated USG UK and its office in London are the new headquarters of the company’s global operations. The previous office of the group was USGFX Pty in Sydney.
The Australian division, USGFX Pty entered in to voluntary administration on 8 July with Andrew Cummins and Peter Krejci of BRI Ferrier (NSW) Pty Ltd appointed as administrator. Later on ASIC suspended the company’s Australian Financial Services licence until 23 September.
The group recently decided to surrender the rights of their ASIC license and close the Australian unit. USG had been restructuring their global operations foreseeing the risks of the regional restriction order from ASIC.
In early September the group sent an email to its clients stating:
With fifteen years of experience, outstanding technology and steady management, Union Standard International Group has been supported and trusted by millions of traders across more than 130 countries.
The email continued:
Until now, we’ve almost completed the restructuring process and reached 97% of account migration rate. We expect to complete account migration by the end of September 2020.
Simon Quirke, CEO of USG UK, commented:
Simon Quirke Source: LinkedIn
We at USG UK are proud to take on the mantle of the headquarters of the USG Group. USG UK remains an independent UK company regulated by the FCA, however, being the group HQ, together with our continuing contract as the principal sponsor of Sheffield United Football Club, very much makes the UK the hub of the USG Group. I am sure that this will reassure investors of our ongoing commitment to offer them a bespoke and personal service under the protection of one of the world’s most respected regulators.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
