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Retail FX

No AFS License Needed until 2025: ASIC Extends FFSPs Transitional Relief Again

  • The Australian regulator extends the deadline for foreign firms.
  • The date has been set for 31 March 2025, pushing back the need for an Australian license.
Tuesday, 08/08/2023 | 05:08 GMT by Damian Chmiel
Retail FX

FX/CFDs Broker Probis Goes Bankrupt, ASIC Halts Its License

  • ASIC has halted Probis Financial Services' AFS license due to its bankruptcy.
  • The firm must maintain membership with the AFCA until 30 October 2023.
Monday, 07/08/2023 | 05:23 GMT by Damian Chmiel
Retail FX

ASIC Reports $109M in Civil Penalties and 144 Ongoing Cases after H1 2023

  • The first half of 2023 saw 125 charges against individuals.
  • 70 investigations have commenced, and 144 are still ongoing.
Wednesday, 02/08/2023 | 09:25 GMT by Damian Chmiel
CryptoCurrency

ASIC Cancels License of Bankrupt FTX Australia

  • The regulator initially suspended the license of the crypto exchange on 14 November 2022.
  • The administrators of the Aussie subsidiary are yet to resume withdrawals.
Wednesday, 19/07/2023 | 06:29 GMT by Arnab Shome
Institutional FX

Australia’s Central Bank Picks Michele Bullock as First Female Governor

  • Bullock will serve as the ninth governor of the RBA.
  • She replaces Philip Lowe, who will end his tenure in September.
Friday, 14/07/2023 | 08:38 GMT by Jared Kirui
Brokers

Fortune Prime Acquires GMT Markets to Offer CFDs in Australia

  • GMT Markets has offered FX and CFDs in Australia since 2011.
  • Fortune Prime has already started to offer services with the ASIC license gained through the acquisition.
Thursday, 13/07/2023 | 07:22 GMT by Arnab Shome
CryptoCurrency

Aussie Regulator Searched Local Binance Offices

  • The search was a part of the ongoing probe against the exchange derivatives business.
  • Neither ASIC nor Binance confirmed the search.
Wednesday, 05/07/2023 | 09:04 GMT by Arnab Shome
Retail FX

Australia Launches Fusion Cell to Tackle $1b Investment Scams

  • Australia's National Anti-Scam Centre is spearheading the country's first fusion cell.
  • The initiative aims to disrupt scam operations.
Monday, 03/07/2023 | 09:03 GMT by Damian Chmiel
Retail FX

ASIC Flags Mitrade Global for DDO Violations, Suspends Operations

  • Mitrade offered unlimited attempts to retail traders to pass its questionnaires.
  • The order is effective for 21 days unless revoked earlier.
Friday, 02/06/2023 | 06:26 GMT by Arnab Shome
CryptoCurrency

Binance Australia's $9k Bitcoin Discount Signals Investor Concern

  • Binance Australia sells Bitcoin way cheaper than competing exchanges in the region.
  • The discount results from investors fleeing before June's withdrawal suspension.
Tuesday, 30/05/2023 | 07:14 GMT by Damian Chmiel
Retail FX

ASIC Pushes Financial Advisor Registration Deadline to 1 October

  • The regulator will run a campaign to make the industry understand its requirements.
  • The Aussie Parliament will also consider improvements in the proposed requirements.
Tuesday, 30/05/2023 | 07:12 GMT by Arnab Shome
CryptoCurrency

Binance Australia to Allow AUD Withdrawals Until June 1

  • The payment provider of the Binance subsidiary suspended services.
  • Aussie users can still buy and sell cryptos using credit and debit cards.
Monday, 22/05/2023 | 09:00 GMT by Arnab Shome
CryptoCurrency

ASX Abandons Blockchain-Based System to Replace CHESS

  • The exchange operator decided to replace CHESS in 2016.
  • It will not look for more conventional technology.
Friday, 19/05/2023 | 10:21 GMT by Arnab Shome
FinTech

Revolut Seeks Banking License in Australia

  • The fintech firm recently launched business accounts in Australia.
  • It has around 100,000 business customers across Europe.
Thursday, 18/05/2023 | 09:11 GMT by Arnab Shome
Retail FX

Saxo Amends CFDs Target Market Determination amid ASIC’s Stop Order

  • The regulator issued eight stop orders against Saxo’s offerings.
  • The orders were revoked in two days.
Thursday, 18/05/2023 | 07:03 GMT by Arnab Shome
CryptoCurrency

Binance Australia Faces Crises as Payment Provider Halts Support

  • AUD deposit is suspended, but withdrawal is still open.
  • The exchange is now looking for an alternative partner.
Thursday, 18/05/2023 | 05:50 GMT by Arnab Shome
FinTech

Australia Signals It Won’t Tolerate Scams: Regulator and Ombudsman Join Forces

  • APRA and AFCA are seeking an efficient financial system.
  • The move is a partial shift in accountability towards consumers, a fintech expert stated.
Friday, 28/04/2023 | 14:33 GMT by Solomon Oladipupo
Institutional FX

Tradeweb Wants to Buy Yieldbroker for AUD 125 Million

  • There is no guarantee that the deal will be finalized.
  • 43% of Yieldbroker is owned by the Australian exchange operator, ASX.
Thursday, 27/04/2023 | 08:58 GMT by Damian Chmiel
Retail FX

Aussies Report a Record AU$1.5B Investment Scam Losses in 2022

  • The actual losses remain much higher than the reported figures.
  • Losses per victim have jumped and averaged at AU$20,000.
Monday, 17/04/2023 | 07:30 GMT by Arnab Shome
Retail FX

Aussie Court Bans 'ASX Wolf' from Offering Financial Advice

  • Tyson Scholz was a popular finfluencer who flaunted his luxurious lifestyle.
  • He can no longer host chat groups for financial advice.
Thursday, 13/04/2023 | 07:55 GMT by Arnab Shome
Institutional FX

Cboe Australia Enhances Offering with Technology Migration

  • Cboe acquired Chi-X and rebranded it to Cboe Australia.
  • The migration was completed with an 18-month integration effort.
Wednesday, 29/03/2023 | 08:24 GMT by Arnab Shome
Retail FX

Saxo Enhances Australia Offerings with Managed Portfolio Launch

  • BlackRock, Morningstar, Nasdaq, and others manage SaxoSelect portfolios.
  • These portfolios have a minimum investment requirement of US$10,000.
Tuesday, 28/03/2023 | 10:44 GMT by Arnab Shome
Retail FX

Pepperstone Enters Aussie Football with Geelong Cats Sponsorship

  • Australian Rules Football is the most popular sport in the country.
  • Pepperstone is also sponsoring the Aussie cricket team Adelaide Strikers.
Friday, 17/03/2023 | 08:31 GMT by Arnab Shome
FinTech

Invesco’s Intelliflo Seeks a Share in Australia’s $1.6T Advice Market

  • The firm boasts of an established market in the UK and has launched in the US.
  • In Australia, Intelliflo says it wants to help cut the cost of financial advice.
Wednesday, 08/03/2023 | 13:57 GMT by Solomon Oladipupo
CryptoCurrency

US, Australia Make New Moves on CBDC

  • The US intends to launch a senior-level working group to debate CBDC.
  • Australia is planning a CBDC pilot to test for offline payments and other use cases.
Thursday, 02/03/2023 | 14:15 GMT by Solomon Oladipupo
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