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HSBC Australia Faces ASIC Lawsuit over Alleged $23 Million Scam Losses
- ASIC sues HSBC Australia for allegedly failing to protect customers from scams.
- The bank faces accusations of inadequate fraud controls and delays in investigating unauthorized transactions.
Monday, 16/12/2024 | 07:31 GMT by
Damian Chmiel
Social Media Ads to WhatsApp Groups: Scammers Target Australians with Fake Investments
- The warning came as ASIC has witnessed an increase in suspected scam investments through social media ads.
- It also received complaints from multiple victims of such scams.
Tuesday, 03/12/2024 | 06:16 GMT by
Arnab Shome
ACY Securities Appoints Phil Kim as Director of Institutional Sales for Asia
- Kim will lead business development across Asia, focusing on expanding institutional relationships and identifying global market opportunities.
- His background spans roles at prominent firms, including iSAM Securities, Sucden Financial, and LMAX Group.
Thursday, 28/11/2024 | 18:46 GMT by
Jared Kirui
Crypto.com Cements Australia Presence: Acquires Locally Licensed CFDs Broker
- The crypto exchange can now offer deposit products, derivatives, securities, and FX to Australian clients.
- However, it has yet to disclose the specifics of the new products and eligible customers.
Thursday, 14/11/2024 | 07:30 GMT by
Arnab Shome
ASIC's “Rewrite” Game-Changing Rules Just Went Live: Is Your CFD Brokerage Ready?
- 1st part of Australia's new OTC derivative reporting rules has just come into effect.
- CFD Brokers must now provide collateral reporting, new unique identifiers, and standardized XML formatting.
Monday, 21/10/2024 | 07:20 GMT by
Damian Chmiel
IG Australia Teams Up with Western Chances to Fund Youth Educational Initiatives
- The partnership aims to provide scholarships, funding for educational opportunities, resources, and mentorship for the youth.
- IG Australia is seeking community involvement in supporting Western Chances.
Friday, 04/10/2024 | 18:44 GMT by
Jared Kirui
Crypto Exchanges in AU Require Financial Licenses Starting in 2024: ASIC Expands Act
- Australian regulators will require crypto exchanges to obtain financial licenses by November 2024.
- ASIC’s Alan Kirkland outlined new crypto regulations at the AFR Crypto and Digital Assets summit.
Monday, 23/09/2024 | 08:47 GMT by
Tareq Sikder
Aussie Watchdog Seeks Tech Partner for 5-Year Fraud Fight
- ASIC builds on its successful takedown of over 7,300 fraudulent sites since July 2023.
- The move aims to enhance Australia's fight against online financial fraud, which cost investors $1.3 billion last year.
Thursday, 19/09/2024 | 06:07 GMT by
Damian Chmiel
ASIC Just Gained New Powers. Check If They Will Affect FX/CFD Brokers
- Australia has enacted new laws granting ASIC expanded powers to regulate financial market infrastructure.
- The reforms aim to enhance stability and efficiency in the country's financial system.
Thursday, 19/09/2024 | 03:44 GMT by
Damian Chmiel
6 Years After This FX/CFD Broker's Collapse, Its Ex-Director Pleads Guilty
- Former Berndale Capital Securities director Daniel Kirby has pleaded guilty.
- The financial misconduct charges included misuse of company funds and providing false information.
Wednesday, 18/09/2024 | 07:41 GMT by
Damian Chmiel
$180 Million Forex Ponzi Scheme Lands 11-Year Prison Sentence
- Tony Iervasi, former director of Courtenay House, has been sentenced in Australia.
- The fraud, which operated for over 6 years, resulted in a net loss of $54 million to around 585 investors.
Tuesday, 03/09/2024 | 08:12 GMT by
Damian Chmiel
Kraken Violated Australian Law by Offering Margin Products: Court Rules
- The court determined that Kraken's fiat-based margin products breached regulations, while the crypto-based products did not.
- The crypto exchange operator was taken to court by ASIC for violating Design and Distribution Obligations (DDO) rules.
Friday, 23/08/2024 | 05:53 GMT by
Arnab Shome
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
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