Derivatives company enters liquidation
The Australian Securities and Investments Commission (ASIC) has confirmed that liquidators have been appointed to a Sydney-based issuer of over-the-counter derivatives to retail clients, GTL TradeUp Pty Ltd.
The regulator said GTL TradeUp, which holds an Australian Financial Services Licence, had seen the appointment of liquidators on 30 September.
It said the liquidators were Steven Kugel and Anthony Warner of CRS Warner Kugel, and that investors should contact the liquidators in the first instance.
The ASIC announcement said the regulator was aware of recent media reports concerning the status of GTL and was "monitoring developments and continuing to work with the liquidators and other relevant parties as appropriate".
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