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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
CryptoCurrency
Zero Hash to Become a Digital Currency Exchange Provider in Australia
Zero Hash has been registered by the Australian Transaction Reports and Analysis Center.
The Australian subsidiary has appointed Claire Wivell Plater as a NED.
Thursday, 11/08/2022 | 16:56 GMT
by
Solomon Oladipupo
News
Volt Bank Returns All Customer Deposits as a Part of Shuttering Process
The bank is closing services due to the lack of funds.
It will hand back its APRA license in the coming weeks.
Monday, 25/07/2022 | 06:51 GMT
by
Arnab Shome
News
Binance Starts Offering Crypto CFDs to Wholesale Australian Traders
The OTC derivatives are being offered under an AFS license.
Earlier, Binance stopped offering crypto derivatives in Australia after an ASIC warning.
Friday, 22/07/2022 | 10:19 GMT
by
Arnab Shome
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Executives
Australian Broker FXTRADING.com Gets New CEO Michael Berman
Until his appointment, Berman was the CEO of Ditto Trade.
The industry veteran brings 20+ years of experience to the role.
Wednesday, 20/07/2022 | 15:17 GMT
by
Solomon Oladipupo
Retail FX
Issues with Investment Product Terms in Australia Jumped by 554%
AFCA received 654 complaints against the interpretation of product terms and conditions.
The agency received a total of 72,358 complaints in FY22.
Wednesday, 20/07/2022 | 08:23 GMT
by
Arnab Shome
Retail FX
Australian Authorities Charge Chris Marco with 50 Counts of Fraud
Marco operated an unregistered investment scheme.
He has been charged under section 409 of the Criminal Code (WA).
Wednesday, 20/07/2022 | 07:03 GMT
by
Bilal Jafar
Brokers
Trade360 Operator Surrenders Australia License amid ASIC Investigation
The company breached licensing obligations.
The regulator also banned two executives of the OTC derivatives operator.
Thursday, 14/07/2022 | 07:15 GMT
by
Arnab Shome
Retail FX
Vantage Engages YouTuber Supercar Blondie to Launch ESG Programme
Blondie will participate in Extreme E’s Blue Carbon sustainability initiative.
Vantage's corporate ESG journey was driven by passion of its employees.
Saturday, 09/07/2022 | 00:32 GMT
by
Solomon Oladipupo
Retail FX
Australians Lost over AU$2 Billion to Scams in 2021
Losses to investment scams were highest at AU$701 million.
Scammers are targeting vulnerable communities and age groups.
Monday, 04/07/2022 | 06:33 GMT
by
Arnab Shome
Regulation
ASIC Seeks 5 Year Extension of Retail OTC Brokers’ Financial Requirements
The regulator is seeking another five-year extension of the requirements.
It did not propose any significant changes to the existing rules.
Thursday, 30/06/2022 | 07:33 GMT
by
Arnab Shome
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News
Funding Obstacles Force Australian Neobank Volt to Shutter
The neo bank received an APRA license in 2019.
It holds around AU$113 million in customer deposits.
Wednesday, 29/06/2022 | 07:42 GMT
by
Arnab Shome
Technology
ASIC Wants Trading Players to Provide Services Even during Outages
The regulator is asking market players to build resilient measures for outages.
It is concerned about the upcoming technology upgrades that might impact operations.
Tuesday, 28/06/2022 | 07:10 GMT
by
Arnab Shome
FinTech
Darren Boulos to Rejoin Deutsche Bank as Co-Head of Global FX for APAC
Boulos is to replace Lee Merchant.
The ex-BNY Mellon executive will help drive GFX franchise across APAC.
Friday, 24/06/2022 | 12:54 GMT
by
Solomon Oladipupo
Retail FX
Aussie Court Sends CFDs Trader to Prison for Insider Trading
He made AU$343,000 from executing trades with insider information.
He pled guilty to the insider trading charges.
Monday, 20/06/2022 | 06:26 GMT
by
Arnab Shome
Retail FX
AFCA Pauses AU$267 Million in Customer Claims of Two Insolvent FX Brokers
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.
Friday, 10/06/2022 | 06:07 GMT
by
Arnab Shome
News
Currencycloud Gains AFS License to Offer Full Suite in Australia
The company already has several clients in Australia.
It has onboarded Nick Briscoe as the Country Manager for Australia.
Tuesday, 07/06/2022 | 09:45 GMT
by
Arnab Shome
Retail FX
Australians Lost AU$158 Million to Investment Scams in H1 2022
Cryptocurrency scams are most common in the country.
The regulator in the country also sued Meta for allowing crypto scam ads.
Monday, 06/06/2022 | 07:56 GMT
by
Arnab Shome
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Executive Moves
ASX Picks Helen Lofthouse as Managing Director and CEO
The appointment will be effective from 1 August 2022.
She joined ASX in September 2015.
Thursday, 02/06/2022 | 11:12 GMT
by
Bilal Jafar
Retail FX
ASIC Charges ANZ Bank for Incorrect Fees and Misrepresentations
The bank ignored the issue and failed to implement a robust system.
The regulator is now seeking remediation for all the affected customers.
Monday, 30/05/2022 | 09:03 GMT
by
Arnab Shome
Regulation
ASIC Wants to Extend Retail Binary Options Ban to October 2031
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.
Thursday, 26/05/2022 | 06:37 GMT
by
Arnab Shome
Retail FX
Australian Securities & Investments Commission Bans Financial Adviser for 5 Years
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.
Thursday, 19/05/2022 | 07:19 GMT
by
Bilal Jafar
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