Search Results for: ASIC
ASIC bans former financial adviser for market manipulation
December 18th, 2015
ASIC has banned Tony Davidof, a former financial adviser, from providing financial services for three years. An ASIC investigation found that Mr Davidof engaged in manipulation of the price of MINI warrants issued by Credit Suisse, commonly called “MINIs”. ...
ASIC: IronFX corrects disclosure about Australian regulation and counterparty arrangements
December 17th, 2015
The Australian Securities and Investments Commission has issued an announcement to inform that: Following concerns raised by ASIC, retail OTC derivative issuer, IronFX Global Australia Pty Ltd (IronFX Australia) has taken steps to remove references from an associated website ...
ASIC implements clearing regime in Australia for OTC derivatives
December 14th, 2015
ASIC has today released rules implementing Australia’s mandatory central clearing regime for over-the-counter (OTC) derivatives of financial institutions – the ASIC Derivative Transaction Rules (Clearing) 2015 (derivative transaction rules (clearing)) and explanatory statement. The mandatory central clearing regime will ...
ASIC: Etrade Australia Securities Limited pays $65,000
December 9th, 2015
Etrade Australia Securities Limited (Etrade) has paid a penalty of $65,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP found it had reason to believe that Etrade had contravened subsection ...
ASIC: Australian Investment Exchange Limited pays $130,000
December 9th, 2015
Australian Investment Exchange Limited (AUSIEX) has paid a penalty of $130,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The penalty was for AUSIEX: failing to have in place organisational and technical ...
ASIC permanently bans insurance broker convicted of fraud
December 8th, 2015
ASIC has permanently banned Mr Mark Chapple from providing financial services after he was convicted of fraud in the NSW Magistrates Court (Tamworth). In May 2015, Mr Chapple pleaded guilty to four counts of obtaining money by deception and four ...
ASIC doesn’t understand us, claim brokers
December 7th, 2015
ASIC does not properly understand the mortgage broking industry, mortgage brokers are concerned. In a recent online poll conducted by Australian Broker asking brokers if ASIC understood their industry, almost nine in 10 respondents (86%) admitted that they did ...
ASIC: Former CEO of a Fund Manager Firm (in liquidation) is permanently banned
December 3rd, 2015
The Australian Securities and Investment Commission has issued a press release to inform about its decision to permanently ban former Equititrust CEO. According to ASIC, the Commission has permanently banned Mark McIvor, former Chief Executive Officer and founding director ...
ASIC imposes licence conditions on Morgans Financial Limited
November 30th, 2015
ASIC and Morgans Financial Limited (Morgans) have agreed to the imposition of new licence conditions on Morgans’ Australian financial services licence. This action by ASIC follows a number of activities, including a surveillance of Morgans’ compliance with financial services ...
ASIC cancels license of financial services company
November 23rd, 2015
ASIC cancels Chronos Capital Pty Limited’s AFS licence and permanently bans Robert Lachlan Semple ASIC has cancelled the Australian financial services licence (AFSL) of Ultimo-based financial services company, Chronos Capital Pty Limited (Chronos), and permanently banned its director and ...
