CEO of belly-up company FX World has been director of seven failed firms

As City of London Police continue their investigation into FX World Managed Account Ltd, a company operated by Clint Canning with a regulatory license from the Financial Conduct Authority (FCA), it has become apparent that Mr. Canning has been a director of seven individual failed companies.

According to records from Companies House, the British non-government organization which is responsible for maintaining the records of every incorporated firm in Britain, Mr. Canning has left a trail of commercial destruction behind every enterprise in which he has been involved.

Aside from FX World, which is the subject of a fraud investigation, another of Mr. Canning’s now defunct companies is contract-cleaning firm Panacea Clean, a former tenant of Lord Sugar’s property business Amsprop.

Prior to going into liquidation, FX World Managed Account Ltd had recently struck a sponsorship deal with Barry Hearn’s Matchroom Boxing.

It is the second high-profile police action against a forex firm in the same building in London within the last three months, the first being the raid of CWM FX by City of London Police.

No arrests have been made so far, however the Police had begun their investigation following the suspension of the company’s license which was suspended on June 29, according to a spokesperson at the FCA. FX World, which offered FX managed account services, is not allowed to operate without the license.

Before the website was suspended and since taken down, the site listed Clint Canning as CEO and Gary Andrews was head of trading. A principal was listed on the FX World FCA register was known as Forexmax Ltd. Whilst Forexmax (the principal) is licensed, the FSA licensed expired but then moved to the FCA and is currently valid.

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