Australian securities regulators were investigating FTX as early as March 2022, according to emails obtained by The Guardian.

The investigation looks to have begun after it became clear that FTX was offering 20 times leverage on its investments. When regulators began to investigate, they discovered that FTX had acquired its license from a takeover of IFS Markets, which had itself acquired it by taking over Forex Financial Services.

In order to understand whether or not FTX was maintaining the standards required by the license, regulators issued an S912C notice to gather information to assess its compliance.

Hosted on Acast. See acast.com/privacy for more information.