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Asic
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
Education Center
Roobet Launches New Game, Snoop’s High Rollers, in Collaboration
Thought Leadership
Europe's Economic Crossroads: Recession Fears and S&P Global's
Education Center
Will Blockchain Technology Mark a Turning Point in Fraud
Education Center
7 Things We Wish Someone Had Told Us Before We Started Trading
Education Center
Roobet Launches New Game, Snoop’s High Rollers, in Collaboration
Thought Leadership
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Retail FX
Dixon Advisory Gets AU$7.2 Million Fine for Client Interest Breaches
Six company representatives breached client interest for around three and a half years.
The company is currently under voluntary administration.
Monday, 19/09/2022 | 08:32 GMT
by
Arnab Shome
Regulation
ASIC Extends Retail Derivatives Issuers’ Financial Requirements for 5 Years
The rules explain the non-tangible asset requirements.
Retail OTC derivatives issuers need to comply with these rules.
Friday, 09/09/2022 | 06:08 GMT
by
Arnab Shome
Regulation
ASIC Extends Binary Options Ban until October 2031
The ban will restrict licensed brokers from offering binary options to retail traders.
It initially came into effect on 3 May 2021.
Monday, 05/09/2022 | 06:06 GMT
by
Arnab Shome
Regulation
ASIC Warns Brokers for Offering High-Risk Products to Retail Investors
These products include securities lending and crypto assets.
The regulator is concerned about claims of ‘zero’ or ‘low-cost’ brokerage.
Wednesday, 31/08/2022 | 05:59 GMT
by
Arnab Shome
Analysis
Regulation
Analysis
Google Kicks Off New Financial Services Ads Policy in Australia: What Will Be the Impact?
The new rule requires financial services firms to verify their ASIC licenses with Google.
Such rules were first introduced in the UK.
Tuesday, 30/08/2022 | 08:11 GMT
by
Arnab Shome
Retail FX
Six Aussie Banks Pay AU$3.6B to Customers for Fees Misconduct
It came after ASIC reviews of the banks’ operations in 2016 and 2017.
NAB paid the highest sum.
Wednesday, 24/08/2022 | 07:12 GMT
by
Arnab Shome
Regulation
ASIC Reveals 4-Year Plan, Focus Will Be on Tech Risks and CHESS Replacement
The regulator outlined corporate plans until 2026.
It will also supervise ASX on CHESS replacement.
Monday, 22/08/2022 | 06:37 GMT
by
Arnab Shome
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CryptoCurrency
Zero Hash to Become a Digital Currency Exchange Provider in Australia
Zero Hash has been registered by the Australian Transaction Reports and Analysis Center.
The Australian subsidiary has appointed Claire Wivell Plater as a NED.
Thursday, 11/08/2022 | 16:56 GMT
by
Solomon Oladipupo
Retail FX
Australian Authorities Charge Chris Marco with 50 Counts of Fraud
Marco operated an unregistered investment scheme.
He has been charged under section 409 of the Criminal Code (WA).
Wednesday, 20/07/2022 | 07:03 GMT
by
Bilal Jafar
FinTech
AFS License of Global Funding Partners Has Been Cancelled by ASIC
ASIC warned companies about taking adequate cyber security measures.
Earlier this month ASIC temporarily suspended the license of ISG.
Tuesday, 19/07/2022 | 09:09 GMT
by
Matti Williamson
Brokers
Trade360 Operator Surrenders Australia License amid ASIC Investigation
The company breached licensing obligations.
The regulator also banned two executives of the OTC derivatives operator.
Thursday, 14/07/2022 | 07:15 GMT
by
Arnab Shome
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
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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
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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
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