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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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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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News
FTX Forms Australia Unit to Offer Regulated Crypto Products Locally
2022-03-21T08:35:15.425+02:00
The local unit is holding an Australian Financial Services Licence.
The starting date of its local services is not known yet.
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News
Aussie Regulator Sues Facebook Parent for Running Crypto Scam Ads
2022-03-18T09:38:32.014+02:00
Fraudsters used images and fake endorsements of several Aussie figures.
One of the victims lost around $477,000 to the scammers.
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Retail FX
Aussie Millennials Embrace Emerging Investment Platforms
2022-03-03T14:09:26.906+02:00
The overall number of online investors in Australia increased in 2021.
A report from Investment Trends shows that emerging brands are expanding their reach.
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CryptoCurrency
The Australian Advisory Committee Calls for Regulating Cryptocurrencies
2022-03-02T14:58:59.256+02:00
The analysis shows that at least 3 million people own crypto-related products in Australia.
The committee raises security concerns in crypto exchanges.
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Brokers
Tiger Brokers Enters Australia with Online Brokerage Services
2022-02-28T08:49:41.473+02:00
It has launched its proprietary trading platform Tiger Trade.
It is targeting millennials with the new services.
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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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Brokers
USGFX Administrator Receives AU$357 Million in Creditors Claims
2022-01-25T13:56:57.027+02:00
Only AU$8 million in broker’s funds are currently available.
The administrator is now attempting to recover the offshore assets of the broker.
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News
Australian Crypto Exchange BTC Markets Partners with Ajla Tomljanovic
2022-01-14T15:40:33.874+02:00
Ajla Tomljanovic is a well-known tennis star in Australia.
Caroline Bowler is the Chief Executive of BTC Markets.
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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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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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