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Exclusive: “ASIC Is Monitoring the Emergence of Prop Trading Firms”
- Finance Magnates recently interviewed Dr Rhys Bollen, ASIC's Digital Assets Senior Executive Leader, discussing the regulator’s focus areas and challenges.
- “An area for future focus for ASIC is the distribution of CFDs by issuers via emerging channels, such as ‘prop trading’ services,” he said.
Wednesday, 14/08/2024 | 13:40 GMT by
Arnab Shome
ASIC and Vietnam’s SSC Formalize Regulatory Partnership with New MoU
- The MoU is part of a capacity-building program funded by DFAT through the Mekong Australia Partnership.
- It aims to enhance technical cooperation, information sharing, and market transparency.
Monday, 05/08/2024 | 08:14 GMT by
Tareq Sikder
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
Two Aussie Directors of Troubled FX and CFDs Broker XTrade Banned
- One of the directors is facing a two-year ban from carrying out any financial services business, while the other is facing a five-year ban.
- ASIC also cancelled the broker's licence earlier this year.
Thursday, 18/07/2024 | 06:15 GMT by
Arnab Shome
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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