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CryptoCurrency
Binance Australia License Cancelled by ASIC at Exchange's Request
2023-04-06T10:07:54.264+02:00
Binance Australia Derivatives was operated by Oztures Trading Pty Ltd.
The exchange is facing a CFTC lawsuit and regulatory warnings worldwide.
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Damian Chmiel
Retail FX
ASIC Temporarily Halts Interactive Brokers' Stock Lending Products
2023-03-09T10:40:26.783+02:00
The temporary suspension will last for 21 days.
The regulator raised concerns about the product's target market determination and disclosure statements.
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Institutional FX
ASIC Encourages Whistleblowers to "Speak Up" and Publishes Good Practices Report
2023-03-02T11:12:22.566+02:00
The Australian regulator wants to help improve companies' whistleblowing rules.
ASIC reminds regulated entities that they are obliged to protect whistleblowers from detriment.
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Retail FX
Another Director of $180m FX Ponzi Scheme Faces 10 Years in Jail
2023-02-22T11:08:07.090+02:00
After Irevasi and Papoulias pled guilty, the court charged Sipina with criminal offences.
The Ponzi scheme operated for almost seven years.
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CryptoCurrency
ASIC Puts Crypto in Its 2023 Enforcement Priorities
2023-02-15T10:52:08.466+02:00
The regulator took several enforcement actions against crypto firms last year.
It also kept sustainable finance and cyber risks on its priorities list.
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Retail FX
ASIC Bans Bradford AI Director for Unlicensed FX Trading Services
2023-01-30T09:37:08.492+02:00
Without holding an AFS license, the company allowed clients to trade FX CFDs.
It leased a trading bot and tapped the services of a CFDs broker.
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Retail FX
ASIC Drafts Reporting Rules for Foreign Brokers with Aussie Clients
2023-01-23T08:36:45.272+02:00
The new rules are likely to commence in October 2024.
It shows ASIC's focus on tightening its grip on local market operations.
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Executive Moves
ASIC Commissioner Sean Hughes Resigns to Join Vanguard
2023-01-17T09:03:18.142+02:00
Hughes is leaving ten months before the expiry of his term at ASIC.
He will now oversee Vanguard Australia's legal and compliance functions.
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Arnab Shome
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Retail FX
AAT Upholds Olive Financial Markets' Aussie Licence Cancellation
2023-01-11T10:22:00.516+02:00
ASIC canceled Olive's AFS license on 16 March 2020.
The company appealed against ASIC's decision on 17 March 2020.
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Arnab Shome
Brokers
Top Forex Brokers in Australia
2023-01-05T15:25:50.455+02:00
How do you choose the best forex brokers in Australia?
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Finance Magnates Staff
Retail FX
ASX Wolf Tyson Scholz Breaches Aussie Financial License Laws
2022-12-20T11:48:56.622+02:00
He was held for providing financial advisory without an AFS license.
The action came after ASIC cautioned the 'finfluencers' earlier.
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FinTech
ASIC Stops Two AFS Licenses, Takes American Express to Court
2022-12-06T15:46:07.762+02:00
One AFS license was suspended and another was cancelled.
American Express Australia was accused of improper credit card distribution.
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Damian Chmiel
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Institutional FX
ASIC Guides Exchanges How to Name ETPs
2022-11-24T12:04:09.347+02:00
Financial market watchdog introduced two levels of labeling.
They are based on product type and their specific risks.
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CryptoCurrency
ASIC Seeks Civil Penalty from Block Earner for Unlicensed Crypto Offerings
2022-11-23T09:54:00.011+02:00
Block Earner offers several cryptocurrency-based fixed-yield earning products.
It does not hold an AFS license.
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CryptoCurrency
No Blockchain for Aussie Stock Market, RBA Is "Very Dissapointed"
2022-11-17T13:41:36.638+02:00
Five years of work on a blockchain solution for ASX costs over $170 million.
RBA and ASIC criticized ASX actions.
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Damian Chmiel
CryptoCurrency
FTX’s Bahamas Unit Applies for Bankruptcy Protection in the US
2022-11-16T15:56:42.114+02:00
The subsidiary is seeking protection from creditors in the United States.
Several regulators have responded to the sudden collapse of FTX.
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Solomon Oladipupo
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Retail FX
ASIC Sentences Former CEO of van Eyk Research to 15 Months Imprisonment
2022-11-16T12:41:33.387+02:00
Thomas will be banned from managing a company for five years.
He was ordered to perform 250 hours of community service.
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Damian Chmiel
Op-ed
Retail FX
Op-ed
2022, a Year of Tightening Marketing Regulations for Retail Brokers
2022-11-16T11:43:39.124+02:00
The COVID-19 pandemic saw a significant rise in online investments and digital crimes
Several countries have tightened their financial advertising regulations to protect the public
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Jonathan Elkin
CryptoCurrency
ASIC Suspends FTX’s AFS License
2022-11-16T08:21:23.286+02:00
The company is allowed to offer limited services until 19 December.
It has also entered into voluntary administration.
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Arnab Shome
Retail FX
ASIC Bans Unlicensed CFDs Trader for 10 Years
2022-11-15T08:26:10.397+02:00
He is a former Director at Suncoast Trading (operated as Equity Trade).
He offered guaranteed high returns to clients from managed CFDs trading.
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Retail FX
ASIC Warns Against Fake IPO Investment Frauds
2022-11-09T13:41:11.339+02:00
The regulator uses case studies of Porshe's IPO and Care A2's Pre-IPO.
ASIC reminds that investing at the Pre-IPO stage involves higher risks.
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Damian Chmiel
Retail FX
FX Ponzi Scheme Defrauded $180m, Director Faces 10 Years in Jail
2022-11-08T12:06:38.131+02:00
The scheme operated for almost seven years, starting in 2010.
The former director of a fraudulent company faces five criminal charges.
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CryptoCurrency
ASIC Shows How to Spot a Cryptocurrency Scam
2022-11-08T10:25:47.578+02:00
ASIC supports ongoing Scams Awareness Week 2022.
The regulator lists 10 ways to identify potential crypto fraud.
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Damian Chmiel
Retail FX
ASIC Heralds 12 'Enforcement Priorities' for 2023, including Crypto
2022-11-03T11:22:38.127+02:00
New priorities focus on the protection of consumers from financial harm.
The new list includes greenwashing, social media misinformation and cryptocurrencies.
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Damian Chmiel
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Retail FX
ASIC Bans Former Trade360 Manager for 8 Years
2022-11-02T12:29:12.603+02:00
Bringans was working for Sirius Financial, trading as Trade360.
Following ASIC's investigation, the company's license was revoked.
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