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Australia
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Retail FX
Aussie Court Sends CFDs Trader to Prison for Insider Trading
2022-06-20T08:26:40.513+02:00
He made AU$343,000 from executing trades with insider information.
He pled guilty to the insider trading charges.
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Retail FX
AFCA Pauses AU$267 Million in Customer Claims of Two Insolvent FX Brokers
2022-06-10T08:07:16.352+02:00
It paused the claims of a total of 44 financial services providers that are now insolvent.
The total claims of these companies touched AU$376.5 million.
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News
Currencycloud Gains AFS License to Offer Full Suite in Australia
2022-06-07T11:45:55.771+02:00
The company already has several clients in Australia.
It has onboarded Nick Briscoe as the Country Manager for Australia.
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Retail FX
Australians Lost AU$158 Million to Investment Scams in H1 2022
2022-06-06T09:56:49.565+02:00
Cryptocurrency scams are most common in the country.
The regulator in the country also sued Meta for allowing crypto scam ads.
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Executive Moves
ASX Picks Helen Lofthouse as Managing Director and CEO
2022-06-02T13:12:48.030+02:00
The appointment will be effective from 1 August 2022.
She joined ASX in September 2015.
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Retail FX
ASIC Charges ANZ Bank for Incorrect Fees and Misrepresentations
2022-05-30T11:03:30.499+02:00
The bank ignored the issue and failed to implement a robust system.
The regulator is now seeking remediation for all the affected customers.
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Regulation
ASIC Wants to Extend Retail Binary Options Ban to October 2031
2022-05-26T08:37:31.744+02:00
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.
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Retail FX
Australian Securities & Investments Commission Bans Financial Adviser for 5 Years
2022-05-19T09:19:00.012+02:00
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.
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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
Westpac Faces $83 Million Fine for Several Lapses
2022-04-22T08:17:04.268+02:00
The bank charged services fees to over 11,800 deceased customers.
The judge said that the bank 'systemically' failed to address the lapses.
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Executive Moves
Andrew Taylor Joins ACY Securities as Managing Director
2022-04-21T09:17:52.640+02:00
He joins ACY Securities from IC Markets.
Taylor has nearly 30 years of experience in the financial services sector.
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News
Animoca Brands Announces Acquisition of Be Media
2022-04-19T09:05:55.498+02:00
The company aims to expand its presence in Australia.
Founded in 2013, Be Media is a digital performance agency based in Perth.
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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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News
ANZ Worldline Payment Solutions Goes Live in Australia
2022-04-04T15:13:16.369+02:00
The new launch will support merchants in Australia through innovative payment solutions.
From 1 April, ANZ Worldline Payment Solutions has started serving ANZ’s merchant clients.
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News
Worldline Acquires Majority Stake in ANZ’s Acquiring Business
2022-04-01T09:59:41.493+02:00
The European payments giant entered the Australian market with this move.
It has established a joint-venture with ANZ Bank.
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Retail FX
Australian Futures Exchange FEX Global Gains CFTC Registration
2022-03-31T09:50:53.810+02:00
It can now operate in several US derivatives markets.
The platform is regulated by ASIC in Australia.
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Brokers
City Index Boosts Presence in Australia, Announces Rebrand
2022-03-28T13:05:46.417+02:00
The online trading services provider termed Australia is a ‘key market’.
The company is planning to facilitate traders through a broad range of services.
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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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News
Zepto Receives $25 Million in Series A Investment
2022-03-28T09:53:01.659+02:00
AirTree Ventures and Decade Partners have invested in Zepto.
The company aims to drive its international expansion through recent funding.
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News
ANZ Takes Lead in Australia’s Crypto Ecosystem
2022-03-24T10:23:50.294+02:00
The financial services provider recently carried out an Australian dollar stable coin payment.
Australia is one of the fastest-growing crypto markets in the world.
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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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Regulation
Australia Government Defines Crypto Assets, Proposes Regulations
2022-03-21T11:38:37.039+02:00
It now is seeking feedback on the proposed definitions and regulations.
It has set the submission date for May 27, 2022.
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