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Retail FX

Australia's Top Lender Teams Up with Travelex to Revive FX Cash Services

  • CBA's 11 million customers will access 30+ currencies on Travelex.
  • Travelex and CBA's partnership signals a positive shift in Australia's retail FX landscape post-Covid.
Wednesday, 24/01/2024 | 14:54 GMT by Jared Kirui
Retail FX

Indie Advice's License Axed by ASIC: Financial Inactivity Fallout

  • Despite the cancellation, the license is effective till June 2024 for dispute resolutions.
  • This is another ASF license withdrawal in recent months.
Tuesday, 23/01/2024 | 08:59 GMT by Damian Chmiel
Retail FX

ASIC Extends Registration Deadline for Financial Advisors by 2 Weeks

  • The new deadline to register with the regulator is not 16 February 2024.
  • Any registration failure would attract enforcement actions.
Thursday, 18/01/2024 | 09:04 GMT by Arnab Shome
Retail FX

Complaints against Australian Financial Firms Topped in 2023

  • The AFCA received 102,790 complaints from distressed residents last year.
  • The ombudsman already secured AU$304 million in compensation and refunds.
Tuesday, 09/01/2024 | 08:07 GMT by Arnab Shome
FinTech

Fintech Firm Volt Rides Wave of Series B Funding to Australian Shores

  • The company is expanding its payment technology.
  • Local Megatix is the first to adopt Volt for quicker transfers.
Thursday, 23/11/2023 | 08:50 GMT by Damian Chmiel
Retail FX

ASIC Suspends Licenses of JB Markets, First City amid Compliance Failures

  • Licenses will be reinstated once both companies meet AFS requirements.
  • The specter of complete authorization loss looms over First City.
Thursday, 16/11/2023 | 09:02 GMT by Damian Chmiel
FinTech

Mastercard and FD Global Unveil Fintech Governance Initiative in Australia

  • This program addresses capital challenges and economic uncertainty.
  • It responds to the current economic landscape facing fintech companies.
Tuesday, 14/11/2023 | 13:40 GMT by Jared Kirui
Retail FX

CMC, IG and More: 7 CFDs Brokers Violated Aussie Leverage Rules, Returns AU$4.3M

  • These CFDs brokers offered leverages to retail clients beyond the permitted limits.
  • They self-reported the breaches and cooperated with ASIC’s review.
Thursday, 09/11/2023 | 07:32 GMT by Arnab Shome
Retail FX

ASIC Publishes Its First ‘Investor Alert List’: Adds 77 Names

  • The Aussie regulator will update this list with the names of unlicensed and imposter entities.
  • It recently took action against over 2,500 investment scams and phishing websites.
Wednesday, 08/11/2023 | 07:39 GMT by Arnab Shome
Retail FX

eToro Kicks Off a Three-Year Sponsorship with Australian Football League

  • eToro became the Official Trading and Investing Platform of the A-Leagues for three years.
  • The partnership includes branding on jerseys, substitution boards, and a digital presence.
Thursday, 02/11/2023 | 08:27 GMT by Damian Chmiel
Retail FX

ASIC’s Anti-Scam Drive: Over 2,500 Investment Fraud, Phishing Websites Face Action

  • The regulator implemented a new scam website takedown capability.
  • It has already taken down 2,100 websites.
Thursday, 02/11/2023 | 08:10 GMT by Arnab Shome
Retail FX

Complaints against FTX Australia Tops in FY23, IC Markets Follows

  • The number of complaints was revealed in the latest data by AFCA.
  • Complaints against derivatives and forex dealers significantly dropped from the previous year.
Tuesday, 24/10/2023 | 09:43 GMT by Arnab Shome
Retail FX

Good News for AFS Licensees: ASIC Eases Breach Reporting Rules

  • If a regulation breach didn't harm the client, there's no need to report it.
  • Additionally, ASIC has extended the reporting period for significant matters from 30 to 90 days.
Thursday, 19/10/2023 | 09:48 GMT by Damian Chmiel
CryptoCurrency

Australia Proposes Tighter Crypto Rules: Mandatory Licenses and Reviews

  • Crypto exchanges need to obtain licenses from ASIC.
  • Kraken’s Australia Director called it the “shoehorning” of crypto in financial services regulations.
Monday, 16/10/2023 | 06:29 GMT by Arnab Shome
Institutional FX

AUSIEX Taps Saxo Australia for Market Access to Financial Advisors

  • Financial advisors on AUSIEX can now directly trade equities.
  • It supports more than 475,000 investors and over 4,500 advisers.
Thursday, 28/09/2023 | 09:34 GMT by Arnab Shome
CryptoCurrency

‘Similar to a Bank Account’: Aussie Fintech Fined for Misrepresentation of Crypto Product

  • The product claimed to be risk-free, offering an annual return of 7.6 percent.
  • It received about AU$1.6 million from around 700 customers.
Wednesday, 27/09/2023 | 06:35 GMT by Arnab Shome
Institutional FX

ANZ Hit with $15 Million Fine for Misleading Almost 200,000 Customers

  • The federal court orders against ANZ for misleading customers about credit card fees.
  • Over 186,000 accounts have been remediated, with some customers charged thousands in USD.
Tuesday, 26/09/2023 | 09:03 GMT by Damian Chmiel
CryptoCurrency

Crypto Exchange JPEX Moves to Deregister Australia Entity, HK Blocks Access

  • Hong Kong police received complaints from 1,641 investors involving HK$1.2 billion in crypto assets.
  • Several arrests were made in connection with the crypto exchange.
Thursday, 21/09/2023 | 10:41 GMT by Arnab Shome
Retail FX

ASIC Grants 332 Australia Financial Services License in FY23

  • The number decreased significantly from the previous year.
  • The regulator also suspended 26 AFS licenses last year.
Thursday, 21/09/2023 | 07:55 GMT by Arnab Shome
CryptoCurrency

Aussie Operator of Kraken Sued over Design and Distribution Failures

  • The Aussie regulator took action against the platform's margin trading product.
  • Kraken is "surprised and disappointed" with the regulatory action.
Thursday, 21/09/2023 | 06:22 GMT by Arnab Shome
Brokers

ASIC Fines Interactive Brokers for Allowing Suspicious Trading

  • The broker's surveillance system triggered 44 'marking the close' alerts.
  • The regulator called it 'negligent' and 'reckless' conduct.
Wednesday, 20/09/2023 | 07:04 GMT by Arnab Shome
FinTech

ASIC Sues PayPal: Alleges Unfair Terms for Small Aussie Businesses

  • PayPal gives only 60 days to businesses to challenge any errors with fees.
  • The payments firm has about 608,275 active business account contracts in the country.
Thursday, 07/09/2023 | 06:49 GMT by Arnab Shome
Retail FX

Obligations for CFDs Brokers: ASIC Seeks to Tighten DDO Rules Further

  • The Aussie regulator introduced the DDO rules in October 2021.
  • It has taken action against five retail OTC brokers since then, including a lawsuit against eToro.
Wednesday, 06/09/2023 | 05:03 GMT by Arnab Shome
Institutional FX

Tradeweb Completes A$125 Million Acquisition of Yieldbroker

  • The deal aims to strengthen Tradeweb's foothold in the APAC bond markets.
  • The company's client will gain access to Australian and New Zealand's debt instruments.
Thursday, 31/08/2023 | 07:27 GMT by Damian Chmiel
CryptoCurrency

Melbourne-Based Crypto Lender Helio Sentenced for Misleading License Claims

  • The company claimed Australian Credit License but allegedly did not hold one.
  • ASIC has imposed an AUD $15,000 recognizance against the lender.
Friday, 18/08/2023 | 09:56 GMT by Jared Kirui
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