> Asic

Asic

Search for a tag

Regulation

ASIC Seeks 5 Year Extension of Retail OTC Brokers’ Financial Requirements

The regulator is seeking another five-year extension of the requirements.
It did not propose any significant changes to the existing rules.

Thursday, 30/06/2022 | 07:33 GMT by Arnab Shome

Technology

ASIC Wants Trading Players to Provide Services Even during Outages

The regulator is asking market players to build resilient measures for outages.
It is concerned about the upcoming technology upgrades that might impact operations.

Tuesday, 28/06/2022 | 07:10 GMT by Arnab Shome

Retail FX

Aussie Court Sends CFDs Trader to Prison for Insider Trading

He made AU$343,000 from executing trades with insider information.
He pled guilty to the insider trading charges.

Monday, 20/06/2022 | 06:26 GMT by Arnab Shome

Retail FX

ASIC Charges ANZ Bank for Incorrect Fees and Misrepresentations

The bank ignored the issue and failed to implement a robust system.
The regulator is now seeking remediation for all the affected customers.

Monday, 30/05/2022 | 09:03 GMT by Arnab Shome

Regulation

ASIC Wants to Extend Retail Binary Options Ban to October 2031

The existing ban on the retail sale of binary options will expire on 7 October 2022.
ASIC issued a consultation paper seeking feedback on the extension of the ban.

Thursday, 26/05/2022 | 06:37 GMT by Arnab Shome

Retail FX

Australian Securities & Investments Commission Bans Financial Adviser for 5 Years

Walter Yaolong Guan has been banned from providing financial services.
During the ban, Guan will not be able to control any entity that is involved in the financial services business.

Thursday, 19/05/2022 | 07:19 GMT by Bilal Jafar

Regulation

ASIC Confirms on Cybersecurity Controls by AFS Licensees

The confirmation came after a court ruling against an AFS license holder.
There is no specific cybersecurity measure on AFS license obligations.

Thursday, 12/05/2022 | 07:04 GMT by Arnab Shome

Retail FX

Forex CT Customers Lost at Least $54 Million, Yet to Be Compensated

The number of customers of the platform climbed to 11,174.
They did not receive any proceeds collected as a pecuniary penalty by ASIC.

Monday, 09/05/2022 | 05:52 GMT by Arnab Shome

Analysis

How Is Aussie Retail FX Industry Reacting to Leverage Restrictions?

ASIC limits retail trading leverage at 30:1 for FX majors.
Australia is home to some of the largest retail brokers.

Friday, 29/04/2022 | 11:11 GMT by Arnab Shome

Institutional FX

ASIC Suspends AFS License of Dixon Advisory, Client Transition Ongoing

The company was put under administration in January.
It can still operate until May 9, 2022.

Tuesday, 19/04/2022 | 07:00 GMT by Arnab Shome

Institutional FX

Westpac Banking Corporation to Pay $1.5 Million Penalty

The Federal Court has imposed a penalty on Westpac for mis-selling consumer credit insurance.
The financial firm issued consumer credit insurance policies to 141 customers who did not request the product.

Thursday, 07/04/2022 | 08:33 GMT by Bilal Jafar

Regulation

ASIC Extends Leverage Restrictions on CFDs for Another Five Years

The restrictions will be in effect until 23 May 2027.
The decision came a year after the initial imposition of the restrictions.

Wednesday, 06/04/2022 | 05:38 GMT by Arnab Shome

FinTech

ASIC Is Suing Macquarie Bank over Unauthorized Withdrawals

Transactions through the fees system by third parties were unmonitored.
Macquarie Bank's penalty by the court may be as high as $500 million.

Tuesday, 05/04/2022 | 07:29 GMT by Matti Williamson

Retail FX

ASIC Bans Former Adviser from Providing Financial Services

The authority has banned Mark Babbage for 10 years.
The order took effect on 11 March 2022.

Monday, 04/04/2022 | 07:30 GMT by Bilal Jafar

Op-ed

Retail FX

Op-ed

Reeling In the 'Finfluencers'

Influencers must hold an Australian financial services licence to provide a recommendation.
They should exercise caution when sharing links to financial products.

Monday, 28/03/2022 | 16:30 GMT by Yvonne Nehme

Regulation

ASIC Imposes $63M Civil Penalties in H2 2021 for Violations

The fines in the reported months were significantly higher than the previous six months.
It has prosecuted 99 individuals and companies for liable offenses.

Monday, 28/03/2022 | 09:02 GMT by Arnab Shome

Retail FX

ASIC Warns against Scammers Impersonating Financial Firms

Scammers are reaching out to potential victims through emails, calls and messages.
They provide convincing documents to gain the trust of the potential victims.

Thursday, 24/03/2022 | 06:53 GMT by Arnab Shome

Thought Leaders

Kwakol Markets Secures Coveted ASIC License

Kwakol Markets has registered offices in the US, Hong Kong, Nigeria, and Australia.

Monday, 28/02/2022 | 08:45 GMT by Kwakol Markets

Retail FX

Analysis: Australia Has the Largest FX/CFD Market Per Capita in the World

The number of active retail CFD traders stays at 100,000 in Australia.
In 2021, the average Australian trader deposited more than $8,400 into their CFD account.

Tuesday, 15/02/2022 | 14:18 GMT by Damian Chmiel

CryptoCurrency

Vortex Brands Purchases Additional 8 S19j Pros Crypto Mining Machines

Vortex Brands has ordered additional crypto machines.
The company plans to expand its bitcoin mining operations.

Monday, 24/01/2022 | 17:47 GMT by Nicholas Otieno

News

ASIC Selects 5 Regtech Firms to Solve Corporate Disclosure Challenges

These companies will be given grants to come up with a feasible solution.
The regulator will also work hand-in-hand with these companies.

Friday, 21/01/2022 | 07:01 GMT by Arnab Shome

News

ASIC Issues Warning about SMSFs and Crypto Investments

According to the authority, cryptocurrencies are speculative assets.
The commission urged Australians to consider risks before crypto investments.

Monday, 17/01/2022 | 08:57 GMT by Bilal Jafar

Brokers

Blueberry Markets Inks a Partnership Deal with Signal Centre

Signal Centre will provide daily content to the trading community of Blueberry Markets.
Blueberry Markets has more than 30,000 traders.

Friday, 07/01/2022 | 08:00 GMT by Bilal Jafar

News

ASIC Reveals Its Tactics to Bust Pump-and-Dump Groups

ASIC dropped a warning message on a Telegram pump-and-dump group in October.
Crypto and penny stocks manipulation schemes are running rampant.

Wednesday, 29/12/2021 | 09:02 GMT by Arnab Shome

Retail FX

Futu Holdings Plans to Expand Presence in Australia

The company has successfully acquired an Australia-based subsidiary.
Futu aims to use the license to provide financial services in the region.

Monday, 20/12/2021 | 08:47 GMT by Bilal Jafar

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}