Australia
$180 Million Forex Ponzi Scheme Lands 11-Year Prison Sentence
- Tony Iervasi, former director of Courtenay House, has been sentenced in Australia.
- The fraud, which operated for over 6 years, resulted in a net loss of $54 million to around 585 investors.
Tuesday, 03/09/2024 | 08:12 GMT by
Damian Chmiel
Kraken Violated Australian Law by Offering Margin Products: Court Rules
- The court determined that Kraken's fiat-based margin products breached regulations, while the crypto-based products did not.
- The crypto exchange operator was taken to court by ASIC for violating Design and Distribution Obligations (DDO) rules.
Friday, 23/08/2024 | 05:53 GMT by
Arnab Shome
Director's “Cavalier Attitude” Leads to 10-Year ASIC Ban, License Loss
- ASIC bans United Global Capital director for a decade and cancels company's license due to misconduct.
- The regulator found that UGC engaged in deceptive practices and failed to meet licensee obligations.
Wednesday, 31/07/2024 | 06:56 GMT by
Damian Chmiel
Australia's Defunct Broker Prospero Markets Discloses $25M Claims
- Prospero Markets' liquidators, appointed in April, reportedly face challenges due to management non-cooperation and incomplete records.
- ASIC's investigation last November resulted in asset freezing and suspension of Prospero Markets' license.
Wednesday, 10/07/2024 | 13:54 GMT by
Jared Kirui
RBA’s Focus on Online Payments Signals Broader Trends in Global Financial Regulation
- The RBA’s roadmap for digital payment innovations.
Wednesday, 26/06/2024 | 16:07 GMT by
Pedro Ferreira
Australian Watchdog Steps Up Oversight of Financial Advisers and Traders
- ASIC announces new reporting rules for financial advisers using the experienced provider pathway.
- The regulator also calls on market intermediaries to strengthen the supervision of communication.
Wednesday, 26/06/2024 | 06:02 GMT by
Damian Chmiel
ASIC Seeks to Impose Penalty on This Crypto Firm Since 2022, Court Interferes
- The Aussie market watchdog is appealing a Federal Court decision regarding Block Earner.
- The court relieved it from paying an AU$350,000 penalty for offering unlicensed financial services.
Tuesday, 18/06/2024 | 06:25 GMT by
Damian Chmiel
ASIC Fails to Impose Any Penalty on Block Earner for Unlicensed Offerings
- The regulator was seeking a civil penalty of AU$350,000 from the crypto company.
- The court pointed out that Block Earner acted honestly and not carelessly when it offered the Earner product.
Tuesday, 04/06/2024 | 05:57 GMT by
Arnab Shome
Argentex Expands Global Reach with AFSL for Currency Risk Management
- The firm expands to offer tailored currency risk solutions to Australian wholesale clients.
- The ASIC-granted AFSL allows managing currency volatility while operating as a remittance provider registered with AUSTRAC.
Thursday, 23/05/2024 | 09:40 GMT by
Tareq Sikder
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