Union Standard International Group, which is in the middle of liquidation in Australia, announced its rebranding to United Strategic International Group on Tuesday.
The brokerage now operates with licenses gained from the regulators in the United Kingdom, South Africa, St. Vincent and the Grenadines, and is rebranding these local subsidiaries as well.
Under the United Strategic International Group, the subsidiaries will be known as United Strategic International LLC (USG SV), United Strategic International (Pty) Ltd (USG SA), and United Strategic International Limited (USG UK).
Removing Connections with USGFX
The rebranding has probably pushed to drop the tainted USGFX brand, which has created a ton of controversy with its Australian operation. The entity entered into voluntary administration in July 2020 and entered into liquidation after a month as it lost its Australian Financial Services (AFS) license.
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Despite such troubles, the shareholders faced allegations from the liquidators of non-cooperation in the process and also for not providing access and control of the trading platforms.
“As we were managing the crisis in 2020, we had developed into a brand-new concept for the business and took the inspiration into forming our new name,” the broker group noted in the official announcement. “We would like to present ourselves again with a better strategy and a more comprehensive vision through branding communication.”
The broker group then moved its headquarters from Australia to the United Kingdom and gained the South African license in October last year. Moreover, it parted from the controversial owner Hien Min Soe, who was blamed for the troubles in Australia.
Meanwhile, the worries of the brokerage group were far from over as the Puerto Rican bank accounts of the broker’s Vanuatu-based entity were frozen. However, it is not clear if it has regained access to the accounts.