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Regulation
ASIC Confirms on Cybersecurity Controls by AFS Licensees
2022-05-12T09:04:57.040+02:00
The confirmation came after a court ruling against an AFS license holder.
There is no specific cybersecurity measure on AFS license obligations.
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Retail FX
Forex CT Customers Lost at Least $54 Million, Yet to Be Compensated
2022-05-09T07:52:00.958+02:00
The number of customers of the platform climbed to 11,174.
They did not receive any proceeds collected as a pecuniary penalty by ASIC.
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Analysis
How Is Aussie Retail FX Industry Reacting to Leverage Restrictions?
2022-04-29T13:11:05.505+02:00
ASIC limits retail trading leverage at 30:1 for FX majors.
Australia is home to some of the largest retail brokers.
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Institutional FX
ASIC Suspends AFS License of Dixon Advisory, Client Transition Ongoing
2022-04-19T09:00:41.994+02:00
The company was put under administration in January.
It can still operate until May 9, 2022.
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Institutional FX
Westpac Banking Corporation to Pay $1.5 Million Penalty
2022-04-07T10:33:10.805+02:00
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.
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Regulation
ASIC Extends Leverage Restrictions on CFDs for Another Five Years
2022-04-06T07:38:03.009+02:00
The restrictions will be in effect until 23 May 2027.
The decision came a year after the initial imposition of the restrictions.
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FinTech
ASIC Is Suing Macquarie Bank over Unauthorized Withdrawals
2022-04-05T09:29:14.298+02:00
Transactions through the fees system by third parties were unmonitored.
Macquarie Bank's penalty by the court may be as high as $500 million.
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Retail FX
ASIC Bans Former Adviser from Providing Financial Services
2022-04-04T09:30:52.095+02:00
The authority has banned Mark Babbage for 10 years.
The order took effect on 11 March 2022.
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Bilal Jafar
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Op-ed
Retail FX
Op-ed
Reeling In the 'Finfluencers'
2022-03-28T18:30:00.000+02:00
Influencers must hold an Australian financial services licence to provide a recommendation.
They should exercise caution when sharing links to financial products.
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Yvonne Nehme
Regulation
ASIC Imposes $63M Civil Penalties in H2 2021 for Violations
2022-03-28T11:02:09.746+02:00
The fines in the reported months were significantly higher than the previous six months.
It has prosecuted 99 individuals and companies for liable offenses.
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Retail FX
ASIC Warns against Scammers Impersonating Financial Firms
2022-03-24T08:53:34.911+02:00
Scammers are reaching out to potential victims through emails, calls and messages.
They provide convincing documents to gain the trust of the potential victims.
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Thought Leaders
Kwakol Markets Secures Coveted ASIC License
2022-02-28T10:45:47.163+02:00
Kwakol Markets has registered offices in the US, Hong Kong, Nigeria, and Australia.
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Retail FX
Analysis: Australia Has the Largest FX/CFD Market Per Capita in the World
2022-02-15T16:18:46.646+02:00
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.
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CryptoCurrency
Vortex Brands Purchases Additional 8 S19j Pros Crypto Mining Machines
2022-01-24T19:47:09.640+02:00
Vortex Brands has ordered additional crypto machines.
The company plans to expand its bitcoin mining operations.
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News
ASIC Selects 5 Regtech Firms to Solve Corporate Disclosure Challenges
2022-01-21T09:01:22.041+02:00
These companies will be given grants to come up with a feasible solution.
The regulator will also work hand-in-hand with these companies.
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News
ASIC Issues Warning about SMSFs and Crypto Investments
2022-01-17T10:57:48.986+02:00
According to the authority, cryptocurrencies are speculative assets.
The commission urged Australians to consider risks before crypto investments.
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Brokers
Blueberry Markets Inks a Partnership Deal with Signal Centre
2022-01-07T10:00:49.448+02:00
Signal Centre will provide daily content to the trading community of Blueberry Markets.
Blueberry Markets has more than 30,000 traders.
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News
ASIC Reveals Its Tactics to Bust Pump-and-Dump Groups
2021-12-29T11:02:01.643+02:00
ASIC dropped a warning message on a Telegram pump-and-dump group in October.
Crypto and penny stocks manipulation schemes are running rampant.
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Retail FX
Futu Holdings Plans to Expand Presence in Australia
2021-12-20T10:47:01.994+02:00
The company has successfully acquired an Australia-based subsidiary.
Futu aims to use the license to provide financial services in the region.
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Institutional FX
Marex Gains ASIC’s Approval for Australia Office
2021-12-08T10:28:23.221+02:00
The company is planning to accelerate its expansion in the Asia Pacific.
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Bilal Jafar
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Institutional FX
Westpac Faces 6 Civil Penalty Charges from ASIC
2021-11-30T08:33:00.000+02:00
The bank allegedly violated compliances for several years, affecting thousands of customers.
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Regulation
ASIC Imposes Additional License Conditions on ASX
2021-11-24T09:36:30.000+02:00
The conditions will ensure no outages of the trading platform due to future upgrades.
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Regulation
Aussie Regulator Cautions Firms against Ties with Financial Influencers
2021-11-09T11:08:20.000+02:00
These influencers provide financial advice without having a mandatory AFS license.
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News
ASIC to Shut Down A One Multi Services over Unlawful Crypto Activities
2021-11-04T10:22:08.000+02:00
The authority secured orders from Federal Court against A One Multi and its directors.
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Bilal Jafar
ADVERTISEMENT
Regulation
ASIC Issues Regulatory Guidance on Crypto Products
2021-10-29T08:36:44.000+02:00
It approved the criteria under which Bitcoin and Ethereum investment products can be launched.
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