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Retail FX

Bait? ASIC Cautions against Increasing Fake Websites Displaying Warning Sign

  • Fraudulent websites display messages asking people to report scams to police, ASIC, and Scamwatch.
  • Scammers are even running paid campaigns on popular websites.
Thursday, 21/03/2024 | 09:07 GMT by Arnab Shome
Regulation

$8 Million Loss Instead of 150% Profit: Crypto Fund Director Banned

  • ASIC banned Panacea Capital's Director for dishonesty in crypto fund operation.
  • Brian Jacques Creigh was operating an unlicensed and misleading business in digital assets.
Thursday, 21/03/2024 | 08:15 GMT by Damian Chmiel
Retail FX

Third Conviction Looms in $180M Courtenay House Ponzi Scheme

  • David Sipina admits to unlicensed financial services and dealing with crime proceeds.
  • This comes a year after he was first charged in connection with a Ponzi scheme.
Wednesday, 20/03/2024 | 07:08 GMT by Damian Chmiel
Institutional FX

ASX Had 8,417 Transperancy Errors. It Cost It $1 Million

  • ASIC fined ASX $1.05M for failing to provide pre-trade transparency on its platform.
  • The operator failed to identify incorrect system configurations.
Thursday, 07/03/2024 | 08:00 GMT by Damian Chmiel
Retail FX

ASIC Wipes Out 3,500 Fraudulent Investment Websites in Anti-Scam Initiative

  • The commission accumulated $60 million in civil penalties in the second half of last year.
  • It initiated 83 investigations, charged 19 individuals criminally, and conducted nearly 350 surveillances.
Monday, 04/03/2024 | 09:06 GMT by Tareq Sikder
Retail FX

Don’t Trust Fake Elon Musk Encouraging You to Invest, Warns Regulator

  • An AI-generated billionaire was said to cost one Australian $80,000.
  • ASIC warns against the increasingly common investment deepfakes.
Friday, 01/03/2024 | 07:26 GMT by Damian Chmiel
Retail FX

The $229 Million Money-Laundering Scheme That Brought Down Prospero Markets

  • ASIC targets Prospero Markets for legal action due to money-laundering claims.
  • The court hearing for Prospero's liquidation is set for March 2024 after ASIC's move.
Friday, 01/03/2024 | 06:54 GMT by Damian Chmiel
Retail FX

ASIC Gets Bankruptcy Order against Finfluencer ‘ASX Wolf’

  • The finfluencer failed to pay the regulator the cost of court proceedings.
  • He was banned from offering unlicensed services in April 2023.
Thursday, 29/02/2024 | 08:36 GMT by Arnab Shome
Retail FX

Clueless Investors Finance Director's $440K Splurge in Sham Hedge Fund Scheme

  • The fake fund became Russell Sandiford's private wallet to cover daily expenses.
  • He now faces up to 15 years behind bars and a substantial financial penalty.
Tuesday, 13/02/2024 | 13:03 GMT by Damian Chmiel
CryptoCurrency

Block Earner’s Crypto Product Needs Financial Services License: Aussie Court

  • ASIC first charged the crypto company for lacking an appropriate license in November 2022.
  • The product allowed users to earn fixed yield returns from different crypto-assets.
Friday, 09/02/2024 | 09:28 GMT by Arnab Shome
Retail FX

Australian Regulator Clamp Down on Super Fund Scam and Unlicensed Crypto Services

  • The watchdog charges individuals in SMSF scams and unlicensed crypto service cases.
  • The schemes promised high returns for retail investors.
Tuesday, 06/02/2024 | 08:49 GMT by Damian Chmiel
Retail FX

Westpac's Record $12 Billion Swap Deal Leads to Court Penalty

  • The bank was fined for 2016's unconscionable conduct in a $12 billion interest rate swap.
  • Court declares bank's actions in the largest swap transaction in Aussie history unconscionable.
Wednesday, 31/01/2024 | 08:49 GMT by Damian Chmiel
Retail FX

How a Banned Aussie Built a Financial Network of 5 New Companies

  • David Fuoco was banned from the financial sector for a decade.
  • However, this did not prevent him from opening five new investment firms.
Thursday, 25/01/2024 | 09:20 GMT by Damian Chmiel
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

Prospero Markets Didn't Lodge Financial Reports, ASIC Suspends License

  • The suspension will be effective until 28 February 2024.
  • The broker agreed to the terms of the suspension.
Friday, 22/12/2023 | 08:50 GMT by Arnab Shome
Retail FX

News Nuggets | 6 December: Capital.com Hires New CSO; Robinhood Adds 135 Symbols

  • FCA warns against Christmas fraud; GSTechnologies purchases Semnet.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 06/12/2023 | 11:04 GMT by Damian Chmiel
Retail FX

News Nuggets | 30 November: ASIC Revokes AFS License; FCA Fines Three Money Transfer Firms

  • Also, FMA and FMSB collaborated; TradingView and Santander Financial started partnerships.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 30/11/2023 | 10:34 GMT by Damian Chmiel
Retail FX

News Nuggets | 29 November: Tiger Brokers Offers US Bonds; Nomura Retail Division Rebrands

  • Also, Eurex collaborates with TradingView; Cathedra Bitcoin reports Q3 2023 results.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 29/11/2023 | 11:00 GMT by Damian Chmiel
Retail FX

News Nuggets | 28 November: Ledger Partners with YouHodler; KX Launches AI Server

  • Also, FCA warned against two clone firms; Mastercard and Warply teamed up in MENA.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 28/11/2023 | 11:42 GMT by Damian Chmiel
Retail FX

News Nuggets | 23 November: eToro Presents New Products; Mercer to Pay $12M Penalty

  • Also, ASIC secures undertaking from iExtend; SFC initiates legal action against AMTD.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Thursday, 23/11/2023 | 10:27 GMT by Damian Chmiel
Retail FX

News Nuggets | 22 November: ASIC Suspends AFS licence; SFC Fines Lion Futures $2.8 Million

  • Also, Wedbush Securities appointed a new managing director, and BIS introduced a new data portal.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 22/11/2023 | 11:15 GMT by Damian Chmiel
Retail FX

News Nuggets | 21 November: FCA and FMA Warns against Clones and Fraudsters

  • Also, ASIC published enforcement plan; Plaid hires Adyen executive.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Tuesday, 21/11/2023 | 10:21 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
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
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