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Institutional FX

Westpac Banking Corporation to Pay $1.5 Million Penalty

  • The Federal Court has imposed a penalty on Westpac for mis-selling consumer credit insurance.
  • The financial firm issued consumer credit insurance policies to 141 customers who did not request the product.
Thursday, 07/04/2022 | 08:33 GMT by Bilal Jafar
Regulation

ASIC Extends Leverage Restrictions on CFDs for Another Five Years

  • The restrictions will be in effect until 23 May 2027.
  • The decision came a year after the initial imposition of the restrictions.
Wednesday, 06/04/2022 | 05:38 GMT by Arnab Shome
FinTech

ASIC Is Suing Macquarie Bank over Unauthorized Withdrawals

  • Transactions through the fees system by third parties were unmonitored.
  • Macquarie Bank's penalty by the court may be as high as $500 million.
Tuesday, 05/04/2022 | 07:29 GMT by Matti Williamson
Retail FX

ASIC Bans Former Adviser from Providing Financial Services

  • The authority has banned Mark Babbage for 10 years.
  • The order took effect on 11 March 2022.
Monday, 04/04/2022 | 07:30 GMT by Bilal Jafar
Op-ed
Op-ed
Retail FX
Op-ed
Op-ed

Reeling In the 'Finfluencers'

  • Influencers must hold an Australian financial services licence to provide a recommendation.
  • They should exercise caution when sharing links to financial products.
Monday, 28/03/2022 | 16:30 GMT by Yvonne Nehme
Regulation

ASIC Imposes $63M Civil Penalties in H2 2021 for Violations

  • The fines in the reported months were significantly higher than the previous six months.
  • It has prosecuted 99 individuals and companies for liable offenses.
Monday, 28/03/2022 | 09:02 GMT by Arnab Shome
Retail FX

ASIC Warns against Scammers Impersonating Financial Firms

  • Scammers are reaching out to potential victims through emails, calls and messages.
  • They provide convincing documents to gain the trust of the potential victims.
Thursday, 24/03/2022 | 06:53 GMT by Arnab Shome
Thought Leaders

Kwakol Markets Secures Coveted ASIC License

  • Kwakol Markets has registered offices in the US, Hong Kong, Nigeria, and Australia.
Monday, 28/02/2022 | 08:45 GMT by Kwakol Markets
Retail FX

Analysis: Australia Has the Largest FX/CFD Market Per Capita in the World

  • The number of active retail CFD traders stays at 100,000 in Australia.
  • In 2021, the average Australian trader deposited more than $8,400 into their CFD account.
Tuesday, 15/02/2022 | 14:18 GMT by Damian Chmiel
CryptoCurrency

Vortex Brands Purchases Additional 8 S19j Pros Crypto Mining Machines

  • Vortex Brands has ordered additional crypto machines.
  • The company plans to expand its bitcoin mining operations.
Monday, 24/01/2022 | 17:47 GMT by Nicholas Otieno
News

ASIC Selects 5 Regtech Firms to Solve Corporate Disclosure Challenges

  • These companies will be given grants to come up with a feasible solution.
  • The regulator will also work hand-in-hand with these companies.
Friday, 21/01/2022 | 07:01 GMT by Arnab Shome
News

ASIC Issues Warning about SMSFs and Crypto Investments

  • According to the authority, cryptocurrencies are speculative assets.
  • The commission urged Australians to consider risks before crypto investments.
Monday, 17/01/2022 | 08:57 GMT by Bilal Jafar
Brokers

Blueberry Markets Inks a Partnership Deal with Signal Centre

  • Signal Centre will provide daily content to the trading community of Blueberry Markets.
  • Blueberry Markets has more than 30,000 traders.
Friday, 07/01/2022 | 08:00 GMT by Bilal Jafar
News

ASIC Reveals Its Tactics to Bust Pump-and-Dump Groups

  • ASIC dropped a warning message on a Telegram pump-and-dump group in October.
  • Crypto and penny stocks manipulation schemes are running rampant.
Wednesday, 29/12/2021 | 09:02 GMT by Arnab Shome
Retail FX

Futu Holdings Plans to Expand Presence in Australia

  • The company has successfully acquired an Australia-based subsidiary.
  • Futu aims to use the license to provide financial services in the region.
Monday, 20/12/2021 | 08:47 GMT by Bilal Jafar
Institutional FX

Marex Gains ASIC’s Approval for Australia Office

  • The company is planning to accelerate its expansion in the Asia Pacific.
Wednesday, 08/12/2021 | 08:28 GMT by Bilal Jafar
Institutional FX

Westpac Faces 6 Civil Penalty Charges from ASIC

  • The bank allegedly violated compliances for several years, affecting thousands of customers.
Tuesday, 30/11/2021 | 06:33 GMT by Arnab Shome
Regulation

ASIC Imposes Additional License Conditions on ASX

  • The conditions will ensure no outages of the trading platform due to future upgrades.
Wednesday, 24/11/2021 | 07:36 GMT by Arnab Shome
Regulation

Aussie Regulator Cautions Firms against Ties with Financial Influencers

  • These influencers provide financial advice without having a mandatory AFS license.
Tuesday, 09/11/2021 | 09:08 GMT by Arnab Shome
News

ASIC to Shut Down A One Multi Services over Unlawful Crypto Activities

  • The authority secured orders from Federal Court against A One Multi and its directors.
Thursday, 04/11/2021 | 08:22 GMT by Bilal Jafar
Regulation

ASIC Issues Regulatory Guidance on Crypto Products

  • It approved the criteria under which Bitcoin and Ethereum investment products can be launched.
Friday, 29/10/2021 | 06:36 GMT by Arnab Shome
Regulation

ASIC Proposes to Extend Retail CFDs Restrictions till 2031

  • The ongoing order of product restrictions is set to expire on March 23, 2022.
Monday, 18/10/2021 | 06:31 GMT by Arnab Shome
Regulation

ASIC Drops Warning Message on ‘Pump and Dump’ Telegram Group

  • The group of 300 members was coordinating to inflate the prices of shares.
Friday, 15/10/2021 | 06:26 GMT by Arnab Shome
Brokers

ASIC Brokers Identify Target Markets as New DDO Rules Come into Effect

  • The rules become effective on October 5.
Tuesday, 05/10/2021 | 09:52 GMT by Arnab Shome
Retail FX

ASIC Announces Cancellation of Pure Strategy’s AFS License

  • The authority cancelled the license due to Pure Strategy’s failure to comply with its general obligations.
Monday, 27/09/2021 | 09:09 GMT by Bilal Jafar
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