Asic
$1.5 Million Raised for Forex Trading, Spent on Everything Else
- Trent Bowden admitted three charges of dishonestly using his position as a company director, each carrying a maximum penalty of 15 years in prison.
- ASIC says investors were told their money would go into FX trading, but the funds were spent on personal costs and payments to other investors.
Monday, 29/06/2026 | 06:28 GMT by
Damian Chmiel
ASIC Hits Renew on Four Aging Market Rules
- The corporate regulator says the instruments work as intended and will carry over unchanged when remade.
- The proposal forms part of ASIC's wider effort to thin out aging rules before they lapse under a 10-year sunset clock.
Monday, 22/06/2026 | 06:15 GMT by
Damian Chmiel
Investment Scams Are Australia's Largest Loss Category. ASIC's Whitelist Hinges on Three Conditions
- New FM Intelligence analysis weighs the register against ASIC's two-year takedown record and the 2026 loss trajectory.
- Whether it lowers losses will turn on broker participation, ad-platform verification, and the treatment of authorized representatives.
Friday, 19/06/2026 | 10:19 GMT by
Damian Chmiel
HSBC Australia Caught Napping on Scams — and It's Going to Cost AU$35 Million
- HSBC Australia has admitted to letting scammers drain customers' accounts for years, and now faces a AU$35M penalty in one of the first global bank scam-liability cases of its kind.
- ASIC is seeking AU$35M from HSBC Australia after the bank admitted to inadequate scam controls, 144-day avg case resolution times, and awareness of impersonation fraud risks as far back as 2021.
Thursday, 18/06/2026 | 05:21 GMT by
Arnab Shome
ASIC to Publish Licensee Website Addresses in New Front Against Imposter Scams
- The regulator wants consumers to check genuine financial sites against an official list before they invest.
- Australia's watchdog says it may force licensees to comply if too few hand over their web addresses.
Wednesday, 17/06/2026 | 07:38 GMT by
Damian Chmiel
ASX Admits Misleading the Market on Its Blockchain CHESS Project, Agrees to A$20.5 Million Penalty
- The exchange operator told investors its CHESS settlement overhaul was progressing well, even as internal teams had flagged the work as red.
- The deal closes a case ASIC opened in 2024, though the regulator dropped two of its three original allegations to get there.
Monday, 15/06/2026 | 06:02 GMT by
Damian Chmiel
A 'Record Penalty': USGFX, EuropeFX and TradeFred to Pay AU$300M for ‘Egregious’ CFD Offerings
- It was the “record penalty” secured by ASIC in a regulatory matter.
- Union Standard’s Australian entity was slapped with the highest penalty of AU$156.7 million, while EuropeFX and TradeFred have to pay AU$114.1 million and AU$29.4 million, respectively.
Friday, 12/06/2026 | 05:35 GMT by
Arnab Shome
ASIC Hands Euroclear a May 2027 Deadline to Get Australian
- The Brussels-based settlement provider has a year to file for a clearing and settlement facility license.
- The move follows ASIC's June 2025 licensing of rival Clearstream, bringing both global ICSDs under domestic oversight for the first time.
Wednesday, 27/05/2026 | 05:18 GMT by
Damian Chmiel
Are Crypto Investors More Vulnerable to Scams? ASIC's Warning Indicates So
- The regulator’s warning indicates that Aussies are still falling for known scams that have targeted victims for years.
- 23 per cent of Aussie Gen Zs hold crypto. Is the younger generation too vulnerable to scams?
Monday, 25/05/2026 | 05:39 GMT by
Arnab Shome
ASIC Warns of "Lost Generation" Risk if Australia Falls Behind on Fintech and AI
- Chairman Joe Longo says the regulator wants to be a backer rather than a blocker.
- In the meantime, around half the market declined to take part in the watchdog's recent tokenization survey.
Thursday, 21/05/2026 | 12:00 GMT by
Damian Chmiel
ASIC Cuts 45,000 Paper Filings a Year as Regulatory Simplification Push Targets 90% Digital by June
- The market watchdog says email lodgement now covers 88 forms, a 380% jump on the prior baseline.
- Industry submissions widened breach-reporting relief and halved internal dispute reports for small banks.
Tuesday, 19/05/2026 | 05:34 GMT by
Damian Chmiel
300% Returns Promise Ends in More Than 5 Years' Prison for Australian Adviser
- Ashley Arandez received 5 years and 6 months after pleading guilty to dishonest conduct and unlicensed financial services.
- The sentencing lands as ASIC escalates its push against scams targeting Australia's A$4 trillion superannuation system.
Tuesday, 12/05/2026 | 07:47 GMT by
Damian Chmiel
"Watchdogs Need to Both Bark and Bite": Joe Longo Defends ASIC's Aggressive Tilt in His Final Speech
- The outgoing Chairman pushed for a ban on unlicensed superannuation communications, citing organized fraud against retirement savers.
- Longo hands the role to deputy Sarah Court next month after a tenure that doubled investigations and quadrupled penalty totals.
Thursday, 07/05/2026 | 05:41 GMT by
Damian Chmiel
ASIC Eyes Five-Year Extension of AFS Licensing Relief as October Deadline Looms
- The regulator is asking brokers, fund managers and advisers for feedback on remaking two relief instruments before they expire.
- The proposal lands as Australia's AFS license regime, the framework underpinning the country's CFD industry, faces a stack of fresh deadlines.
Tuesday, 05/05/2026 | 05:34 GMT by
Damian Chmiel
Australia's Digital Asset License Deadline Nears with 10% Turnover Penalty Looming
- ASIC has warned that its no-action position for unlicensed digital asset providers expires on June 30, 2026.
- Firms missing the cutoff risk civil and criminal penalties under Australia's financial services laws.
Monday, 04/05/2026 | 05:40 GMT by
Damian Chmiel
Collapsed CFD Broker Director Pleads Guilty to Misusing $490K Client Funds
- Stavro D’Amore, who pleaded guilty to three charges, made illegal transfers of over AU$681,000 in company funds, which were primarily client deposits.
- Clients of the collapsed broker are still owed over US$6.5 million.
Friday, 01/05/2026 | 07:56 GMT by
Arnab Shome
Four APAC Regulators Set Overlapping Crypto Deadlines in Q2 2026
- Australia, Japan, Hong Kong, and South Korea are simultaneously overhauling digital asset frameworks between April and June.
- A new FM Intelligence analysis maps the licensing, reclassification, and operational mandates converging across the region in a single quarter.
Thursday, 09/04/2026 | 06:49 GMT by
Damian Chmiel
Australia and New Zealand Sound Alarm on AI-Powered Investment Scams as Takedowns Hit Record Pace
- ASIC removed nearly 12,000 scam websites in 2025, while New Zealand's FMA flagged 190 fake trading platforms in March.
- Deepfake videos and fabricated news articles featuring politicians and bank CEOs are driving a new wave of fraud across the Asia-Pacific.
Wednesday, 08/04/2026 | 05:38 GMT by
Damian Chmiel
Binance Fined AU$10 Million in Australia as Crypto Perp Rules Tighten
- The company admitted to misclassifying clients, skirting Australia's consumer production rules.
- Australia and Europe are taking a hard stance on crypto derivatives, as the US opens up.
Friday, 27/03/2026 | 07:57 GMT by
Adonis Adoni
16% of Aussie Gen Z 'Completely Trust' AI with Financial Decisions
- Trust in social media and finfluencers for investment purposes also exceeds 50 per cent.
- The local regulator is now concerned about the growing trend of short-term crypto investments among young people, based on information on social media.
Monday, 16/03/2026 | 05:37 GMT by
Arnab Shome
$583 Million Back in Australians' Pockets: ASIC Just Had Its Most Brutal Enforcement Year Ever
- The regulator secured a record $349.8 million in civil penalties in the second half of 2025, with ANZ alone accounting for $250 million.
- Corporate misconduct complaints also surged 28%, signalling the regulator has no intention of letting up.
Wednesday, 25/02/2026 | 07:08 GMT by
Damian Chmiel
Sarah Court Named ASIC's New Chair as Women Take Control of Australia's Economic Watchdogs
- The appointment comes as enforcement actions surge and the regulator tackles record penalties against financial misconduct.
- Court brings 13 years of enforcement experience from her tenure at Australia's competition regulator before joining ASIC in 2021.
Tuesday, 03/02/2026 | 07:15 GMT by
Damian Chmiel
Former GAIN Capital and Invast Director Pleads Guilty in $181,000 Fraud Case
- The finance executive admits to handling suspected proceeds from crypto investment scams.
- Now, he faces up to one year in jail after admitting he dealt with funds linked to schemes targeting Australian investors.
Tuesday, 27/01/2026 | 06:55 GMT by
Damian Chmiel
eToro Dominates Australia’s CFD Market – Where Trader Loyalty Rarely Survives a Year
- ASIC revealed that 119,300 clients traded CFDs per quarter in fiscal year 2024, a 76 per cent drop from before leverage restrictions were imposed in March 2021.
- Eighty-four per cent of options CFD traders lost money, but the regulator is unsure who is fit to trade these products.
Wednesday, 21/01/2026 | 08:30 GMT by
Arnab Shome
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