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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
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
Analysis
Analysis
Regulation
Analysis
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
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
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
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