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Europe's Economic Crossroads: Recession Fears and S&P Global's
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FinTech
Webull Expands into Australia in Third APAC Launch
Only US-listed securities are to be initially offered in Australia.
Webull Australia secured the AFS license earlier in June.
Monday, 19/12/2022 | 18:47 GMT
by
Solomon Oladipupo
Retail FX
VT Markets Reports 125% Trading Volume Surge in 2022
The broker's success was driven by "innovation, product diversification and expansion."
The FX/CFD industry's FTD sank to an all-time low earlier in August.
Friday, 16/12/2022 | 13:54 GMT
by
Solomon Oladipupo
CryptoCurrency
Australia Aims to Regulate Crypto under Financial System Makeover
The Australian Government wants to set crypto regulations in 2023.
It is a part of a broader move to modernize local financial infrastructure.
Wednesday, 14/12/2022 | 11:28 GMT
by
Damian Chmiel
Retail FX
Aussie Police Charge 4 Chinese Men in an AU$100M FX/Crypto Scam
The four defendants registered companies in Australia and opened bank accounts for money laundering.
Most of the victims of the scam are in the United States.
Friday, 09/12/2022 | 11:52 GMT
by
Arnab Shome
FinTech
ASIC Stops Two AFS Licenses, Takes American Express to Court
One AFS license was suspended and another was cancelled.
American Express Australia was accused of improper credit card distribution.
Tuesday, 06/12/2022 | 13:46 GMT
by
Damian Chmiel
CryptoCurrency
ASIC Seeks Civil Penalty from Block Earner for Unlicensed Crypto Offerings
Block Earner offers several cryptocurrency-based fixed-yield earning products.
It does not hold an AFS license.
Wednesday, 23/11/2022 | 07:54 GMT
by
Arnab Shome
Retail FX
ASIC Sentences Former CEO of van Eyk Research to 15 Months Imprisonment
Thomas will be banned from managing a company for five years.
He was ordered to perform 250 hours of community service.
Wednesday, 16/11/2022 | 10:41 GMT
by
Damian Chmiel
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CryptoCurrency
ASIC Suspends FTX’s AFS License
The company is allowed to offer limited services until 19 December.
It has also entered into voluntary administration.
Wednesday, 16/11/2022 | 06:21 GMT
by
Arnab Shome
Retail FX
ASIC Bans Unlicensed CFDs Trader for 10 Years
He is a former Director at Suncoast Trading (operated as Equity Trade).
He offered guaranteed high returns to clients from managed CFDs trading.
Tuesday, 15/11/2022 | 06:26 GMT
by
Arnab Shome
CryptoCurrency
ASIC Shows How to Spot a Cryptocurrency Scam
ASIC supports ongoing Scams Awareness Week 2022.
The regulator lists 10 ways to identify potential crypto fraud.
Tuesday, 08/11/2022 | 08:25 GMT
by
Damian Chmiel
Retail FX
ASIC Bans Former Trade360 Manager for 8 Years
Bringans was working for Sirius Financial, trading as Trade360.
Following ASIC's investigation, the company's license was revoked.
Wednesday, 02/11/2022 | 10:29 GMT
by
Damian Chmiel
CryptoCurrency
ASIC Sues BPS for Misleading Promotion of Qoin Tokens
Qoin was developed as a non-cash payment facility.
The company even falsely claimed regulatory authorization.
Tuesday, 25/10/2022 | 06:13 GMT
by
Arnab Shome
Retail FX
ASIC Secures $229.9 Million in Civil Penalties in FY 2021/2022
The regulator has secured convictions against 33 individuals.
ASIC introduced breach reporting, hawking prohibition and deferred sales during the period.
Friday, 14/10/2022 | 19:56 GMT
by
Solomon Oladipupo
Executives
OnePro Appoints Mohamed Elsergany as MENA CEO and Global CMO
Elsergany was previously PU Prime's Regional Director for MENA.
OnePro also hired PU Prime's Mohanad Yakout as the Global Head of Market Research.
Friday, 07/10/2022 | 18:45 GMT
by
Solomon Oladipupo
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Regulation
ASIC Approves 578 New Licenses in Fiscal 2022
The licenses include AFS and ACL.
It also canceled 558 licenses.
Friday, 30/09/2022 | 07:39 GMT
by
Arnab Shome
Retail FX
Optus Hack: ASIC Warns Market Intermediaries against Possible 'Fraud'
Personal details of up to 10 million Optus customers were stolen.
Interestingly, the hacker assured deletion of the compromised data.
Wednesday, 28/09/2022 | 06:59 GMT
by
Arnab Shome
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
Brokers
CLSA Premium Suspends Australia Operations
The company suspended its New Zealand operations earlier this year.
It will move resources from Australia to other areas.
Thursday, 08/09/2022 | 06:13 GMT
by
Arnab Shome
Brokers
eToro Introduces Australian Stocks Portfolio
The broker aims to provide exposure to some of the best-performing Australian stocks.
The 35 stocks in the portfolio are from a wide range of industries.
Friday, 02/09/2022 | 10:58 GMT
by
Bilal Jafar
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
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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
Executive Moves
Andrew Tobin to Replace Outgoing Gillian Larkins as ASX CFO
He will join the role on September 5.
The exchange also onboarded its new CEO earlier this month.
Tuesday, 30/08/2022 | 07:46 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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