Retail FX and CFDs broker EBC Financial has announced that the group has received a second ASIC Australian Financial Services Licence (AFSL), for Asset Management. The group’s EBC Financial Group (Australia) Pty Ltd already holds an ASIC AFSL license, from which it operates a CFDs brokerage business.
The new license was issued to EBC Asset Management Pty Ltd, and strengthens the group’s existing offerings. EBC now has the ability to deliver a comprehensive range of investment strategies across asset classes such as real estate, fixed income, equities, and alternative investments, including private equity and venture capital funds.
While allowing for strategic expansion into Australia’s High-Net-Worth market, the company said that the new license empowers EBC to offer specialised services exclusively for wholesale clients globally. These services include general financial product advice on managed investment plans (excluding investor-directed portfolio services) and securities. Additionally, EBC is now authorised to facilitate financial product transactions, including issuing, applying for, acquiring, varying, or disposing of interests in managed investment schemes and securities. This also extends to offering custodial services that provide enhanced protection and transparency for client assets.
Kris Wang, Country Head of EBC Financial Group in Australia, stated,
“The acquisition of this licence reflects our commitment to maintaining the highest regulatory standards while broadening our asset management capabilities. We are dedicated to delivering a diversified and robust investment portfolio designed to meet the varied requirements of high-net-worth individuals and institutional investors.
“We see immense potential in Australia’s growing high-net-worth segment. Our goal is to leverage our global expertise to help investors optimise their portfolios through diversified and innovative investment strategies. We also plan to expand our services to include family office management and other global investment products in the near future.”
EBC Financial, which sponsors FC Barcelona as its Official Partner in Foreign Exchange, is operated by EBC Group, and has offices globally but is run mainly from Hong Kong and China. EBC has licensed subsidiaries in the UK and Australia, and offshore in St. Vincent and the Grenadines, and the Cayman Islands. The company focuses mainly on Chinese and other Far East based traders. EBC is controlled by Chinese national Qin Huazheng.
