Posted February 18, 2018 11:14:30What’s tenex?
Tenex is an Australian financial institution that was formed in 2017.
The name refers to the five digits in its customer ID, which are 0-9 and the number of the Australian bank.
It is a registered Australian financial service provider, meaning it is subject to the Australian Financial Services Commission (AFSC) and the Australian Securities and Investments Commission (ASIC).
The ACCC and ASIC are responsible for regulating the financial industry and have the power to impose penalties for violations of the securities laws.
Tenex was set up by Australian Financial Management and Trading Association (AFMTA) chairman Andrew Sussman.
In 2018, it changed its name to Tenex International Holdings Limited (Tenex), after the Chinese acronym for the Tenex Financial Group, which was founded in 1997.
Mr Sussmen said Tenex had grown to be one of Australia’s largest and most successful financial services providers, with a presence in more than 50 countries.
“Tenex has been successful in the global market, but in Australia it has been an industry leader and it is still a big player in Australia,” he said.
“In the last five years, Tenex has had the biggest growth in the last 10 years, and we believe this will continue.”
It is our hope that Tenex will continue to grow and flourish in Australia.
“We will continue with our mission to build a new industry that will provide a level playing field for everyone, including investors, in the financial services sector.”
Mr Sommers aim was to establish a new Australian financial services industry that was not dominated by a few big players and could be a great opportunity for the country.
“I’m very excited about Tenex, we are a strong player in the market and I’m sure the new leadership team will take the opportunity to make this a success,” he told ABC News Breakfast.
“As a small player we will continue our mission of building a new financial services market.”
He said Tenx would build a strong Australian financial industry, with an Australian based team and Australian headquarters.
“This is an industry that is really very exciting and exciting for everyone involved in it, including us,” he added.
TenEX has an Australian subsidiary, TenEx Holdings Limited, which is based in Perth, but has a network of offices in the United States, Canada, Europe and the United Kingdom.
“What I’m really looking forward to is that we will build a stronger presence in the international market,” Mr Sussmans said.
Mr Zuley, the chairman of the FCA, said he believed that TenEX would be able to grow as it grew.
“The growth potential is huge, the company is strong, and the staff are fantastic,” he explained.
“And the ability to tap into the emerging global financial services opportunities, like the emerging financial services markets around the world, is fantastic.”
The FCA has not yet made a formal decision on whether Tenex should be required to have an Australian headquarters in Australia, but it will consider this as part of its assessment of Tenex’s business plan.