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Retail FX

Indie Advice's License Axed by ASIC: Financial Inactivity Fallout

  • Despite the cancellation, the license is effective till June 2024 for dispute resolutions.
  • This is another ASF license withdrawal in recent months.
Tuesday, 23/01/2024 | 08:59 GMT by Damian Chmiel
Retail FX

ASIC Extends Registration Deadline for Financial Advisors by 2 Weeks

  • The new deadline to register with the regulator is not 16 February 2024.
  • Any registration failure would attract enforcement actions.
Thursday, 18/01/2024 | 09:04 GMT by Arnab Shome
Retail FX

Prospero Markets Didn't Lodge Financial Reports, ASIC Suspends License

  • The suspension will be effective until 28 February 2024.
  • The broker agreed to the terms of the suspension.
Friday, 22/12/2023 | 08:50 GMT by Arnab Shome
Retail FX

News Nuggets | 6 December: Capital.com Hires New CSO; Robinhood Adds 135 Symbols

  • FCA warns against Christmas fraud; GSTechnologies purchases Semnet.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 06/12/2023 | 11:04 GMT by Damian Chmiel
Retail FX

News Nuggets | 30 November: ASIC Revokes AFS License; FCA Fines Three Money Transfer Firms

  • Also, FMA and FMSB collaborated; TradingView and Santander Financial started partnerships.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 30/11/2023 | 10:34 GMT by Damian Chmiel
Retail FX

News Nuggets | 29 November: Tiger Brokers Offers US Bonds; Nomura Retail Division Rebrands

  • Also, Eurex collaborates with TradingView; Cathedra Bitcoin reports Q3 2023 results.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 29/11/2023 | 11:00 GMT by Damian Chmiel
Retail FX

News Nuggets | 28 November: Ledger Partners with YouHodler; KX Launches AI Server

  • Also, FCA warned against two clone firms; Mastercard and Warply teamed up in MENA.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 28/11/2023 | 11:42 GMT by Damian Chmiel
Retail FX

News Nuggets | 23 November: eToro Presents New Products; Mercer to Pay $12M Penalty

  • Also, ASIC secures undertaking from iExtend; SFC initiates legal action against AMTD.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 23/11/2023 | 10:27 GMT by Damian Chmiel
Retail FX

News Nuggets | 22 November: ASIC Suspends AFS licence; SFC Fines Lion Futures $2.8 Million

  • Also, Wedbush Securities appointed a new managing director, and BIS introduced a new data portal.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 22/11/2023 | 11:15 GMT by Damian Chmiel
Retail FX

News Nuggets | 21 November: FCA and FMA Warns against Clones and Fraudsters

  • Also, ASIC published enforcement plan; Plaid hires Adyen executive.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 21/11/2023 | 10:21 GMT by Damian Chmiel
Retail FX

ASIC Suspends Licenses of JB Markets, First City amid Compliance Failures

  • Licenses will be reinstated once both companies meet AFS requirements.
  • The specter of complete authorization loss looms over First City.
Thursday, 16/11/2023 | 09:02 GMT by Damian Chmiel
Retail FX

ASIC Publishes Its First ‘Investor Alert List’: Adds 77 Names

  • The Aussie regulator will update this list with the names of unlicensed and imposter entities.
  • It recently took action against over 2,500 investment scams and phishing websites.
Wednesday, 08/11/2023 | 07:39 GMT by Arnab Shome
Retail FX

ASIC’s Anti-Scam Drive: Over 2,500 Investment Fraud, Phishing Websites Face Action

  • The regulator implemented a new scam website takedown capability.
  • It has already taken down 2,100 websites.
Thursday, 02/11/2023 | 08:10 GMT by Arnab Shome
Retail FX

News Nuggets | 30 October: HSBC's $3B Share Buyback; Railsr $24M Funding Round

  • Also, Laser Digital and Nomura debuted in The Sandbox metaverse; MAS partnered for digital assets innovation.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Monday, 30/10/2023 | 10:37 GMT by Finance Magnates Staff
Retail FX

News Nuggets | 26 October: Ninja Traders's New Version; ASIC Starts Awareness Campaign

  • Also, Mastercard and MoonPay collaborate; LSEG adopts Oracle Cloud and profits from StanChart, Euroclear and BNP Paribas.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 26/10/2023 | 11:16 GMT by Finance Magnates Staff
Retail FX

ASIC Suspends Celtic Equities Management's AFS License for Six Months

  • ASIC's regulatory action stems from Celtic Equities Management's compliance failures.
  • Celtic Equities Management has held an AFS license since 2003.
Monday, 23/10/2023 | 06:56 GMT by Tareq Sikder
Retail FX

Good News for AFS Licensees: ASIC Eases Breach Reporting Rules

  • If a regulation breach didn't harm the client, there's no need to report it.
  • Additionally, ASIC has extended the reporting period for significant matters from 30 to 90 days.
Thursday, 19/10/2023 | 09:48 GMT by Damian Chmiel
CryptoCurrency

Australia Proposes Tighter Crypto Rules: Mandatory Licenses and Reviews

  • Crypto exchanges need to obtain licenses from ASIC.
  • Kraken’s Australia Director called it the “shoehorning” of crypto in financial services regulations.
Monday, 16/10/2023 | 06:29 GMT by Arnab Shome
CryptoCurrency

‘Similar to a Bank Account’: Aussie Fintech Fined for Misrepresentation of Crypto Product

  • The product claimed to be risk-free, offering an annual return of 7.6 percent.
  • It received about AU$1.6 million from around 700 customers.
Wednesday, 27/09/2023 | 06:35 GMT by Arnab Shome
Institutional FX

ANZ Hit with $15 Million Fine for Misleading Almost 200,000 Customers

  • The federal court orders against ANZ for misleading customers about credit card fees.
  • Over 186,000 accounts have been remediated, with some customers charged thousands in USD.
Tuesday, 26/09/2023 | 09:03 GMT by Damian Chmiel
Retail FX

ASIC Grants 332 Australia Financial Services License in FY23

  • The number decreased significantly from the previous year.
  • The regulator also suspended 26 AFS licenses last year.
Thursday, 21/09/2023 | 07:55 GMT by Arnab Shome
CryptoCurrency

Aussie Operator of Kraken Sued over Design and Distribution Failures

  • The Aussie regulator took action against the platform's margin trading product.
  • Kraken is "surprised and disappointed" with the regulatory action.
Thursday, 21/09/2023 | 06:22 GMT by Arnab Shome
Brokers

ASIC Fines Interactive Brokers for Allowing Suspicious Trading

  • The broker's surveillance system triggered 44 'marking the close' alerts.
  • The regulator called it 'negligent' and 'reckless' conduct.
Wednesday, 20/09/2023 | 07:04 GMT by Arnab Shome
Op-ed
Op-ed
Retail FX
Op-ed
Op-ed

FX and CFDs Brokerage Licences: To Buy or Apply?

  • Costs for licenses differ significantly depending on location.
  • Regulatory appetite for new market entrants is a key consideration.
Thursday, 14/09/2023 | 13:30 GMT by Paul Golden
FinTech

ASIC Sues PayPal: Alleges Unfair Terms for Small Aussie Businesses

  • PayPal gives only 60 days to businesses to challenge any errors with fees.
  • The payments firm has about 608,275 active business account contracts in the country.
Thursday, 07/09/2023 | 06:49 GMT by Arnab Shome
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