Search Results for: ASIC
ASIC investigation leads to Interactive Brokers refunding $1.5 million to Australian customers
December 16th, 2014
Following an investigation by ASIC, Interactive Brokers LLC (IB), a US-based online brokerage firm, will refund approximately $1.5 million in fees and commission payments to its retail margin lending customers. The refunds will be made as part of an ...
ASIC surveillance prompts FX provider to enhance compliance procedures
December 8th, 2014
Following an ASIC surveillance, Calibre Investments Pty Ltd will implement changes to the way it offers FX services to retail clients. The move is part of ASIC’s crackdown on the FX industry which has resulted in a number of ...
ESMA and Australian Securities and Investment Commission (ASIC) sign MoU on trade repository data
December 4th, 2014
The European Securities and Markets Authority (ESMA) and the Australian Securities and Investments Commission (ASIC) have concluded a Memorandum of Understanding (MoU) on access to data held in European trade repositories . The MoU is effective as of 26 November 2014. The ...
ASIC takes civil action against Make It Mine
November 26th, 2014
ASIC has started legal action against Make It Mine Pty Ltd (MIM), seeking financial penalties against the company for breaching consumer credit laws, including the responsible lending obligations. ASIC’s civil penalty proceedings, filed in the Federal Court of Australia ...
Asic announce cancellation of credit licence and bans director
November 25th, 2014
ASIC has cancelled the Australian credit licence (credit licence) of Net Finance (Corp) Pty Ltd (Net Finance) and banned its director, Mr Graham Tandy, from the credit industry for 10 years. A second employee responsible for the day-to-day operations ...
ASIC takes civil action against LM founder and former directors
November 20th, 2014
ASIC has started legal action against LM Investment Management Ltd (LMIM) founder, Peter Charles Drake, and former directors, seeking financial penalties and banning orders following the collapse of the Gold Coast-based fund manager. ASIC’s civil penalty proceedings in the ...
ASIC shuts down unlicensed FX business and removes its director from the industry
November 20th, 2014
ASIC has taken action in the NSW Supreme Court to permanently shut down unlicensed foreign exchange (FX) business, Vault Market Pty Ltd (Vault Market), and to remove its sole director, Mr MD Anamul Amin, from the financial services industry. ...
ASIC issues warning about unlicensed FX dealer YoutradeFX
November 19th, 2014
ASIC has today cautioned Australian investors against dealing with the company or group YoutradeFX for trading in margin foreign exchange (FX). ASIC advises that YoutradeFX is not regulated by ASIC, nor is it licensed to trade in margin FX ...
ASIC proposes to cut red tape and encourage more electronic disclosure
November 14th, 2014
ASIC is seeking feedback on proposals to make it easier for businesses to deliver financial services disclosures electronically while preserving choice for consumers. Our proposals also encourage the use of more innovative formats for Product Disclosure Statements. ASIC today ...
ASIC announces financial report
November 7th, 2014
ASIC today announced its areas of focus for 31 December 2014 financial reports of listed entities and other entities of public interest with many stakeholders. ‘Directors and auditors should focus on values of assets and accounting policy choices, which ...
