Brief Look at RockGlobal
RockGlobal, the brand of Rockfort Markets Limited, ceased operations after the revocation of its Derivative Issuer license by New Zealand’s Financial Markets Authority (FMA). In July 2024, the FMA canceled the license citing repeated violations, including false advertising, failure to maintain effective control systems, and noncompliance with earlier regulatory directives. These issues had been identified as far back as 2019.
Under the FMA’s ruling, RockGlobal was required to close all remaining client derivative positions before the license was fully canceled. The broker attempted to contest the decision, but in November 2023 the court rejected its appeal, and a subsequent application to the Court of Appeal was also dismissed, allowing the FMA to publish case materials.
After the license was revoked, RockGlobal ceased operations, and its clients were redirected to another broker, BlackBull Markets, which assumed responsibility for servicing accounts and provided market access through Interactive Brokers. The closure of RockGlobal was therefore not related to bankruptcy or rebranding but stemmed from regulatory action following systemic violations of obligations to clients and authorities.
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