Search Results for: ASIC
Bundesbank announcement of the basic rate of interest as of 1 July 2015
July 1st, 2015
The Deutsche Bundesbank calculates the basic rate of interest pursuant to section 247 (1) of the German Civil Code (Bürgerliches Gesetzbuch) and publishes its current level in the Federal Gazette (Bundesanzeiger) pursuant to section 247 (2) of the German Civil Code. The basic ...
Cold calling firm FXTS Guru cut off following ASIC concerns
June 18th, 2015
A cold-calling operation promoting FX and binary option products to investors worldwide has agreed to stop contacting Australian investors following ASIC concerns. The outcome is part of ASIC’s ongoing work in the retail OTC derivative space. FXTS Guru claimed ...
ASIC Developer Bitmine AG Goes Bankrupt, Faces Lawsuits
June 9th, 2015
Swiss ASIC miner developer Bitmine AG was officially declared bankrupt by the local court of Bellinzona, Switzerland, in May 2015. All accounts, assets and company documents have been handed over to the Swiss justice ministry and are under investigation. ...
ASIC suspends BBY Ltd’s AFS licence
May 28th, 2015
ASIC has suspended the Australian financial services (AFS) licences held by BBY Ltd, BBY Advisory Services Pty Ltd, and SmarTrader Limited. Importantly, the terms of the suspension allow the Receivers and Administrators to transfer a client’s “holder identification number” ...
ASIC releases first licensing activity report
May 20th, 2015
ASIC today published its first report on its approach to licence applications to help inform businesses and individuals wanting to provide financial services or credit, or register as a liquidator or auditor. Report 433 Overview of licensing and professional registration ...
ASIC blocks forex broker’s IPO
May 14th, 2015
The corporate watchdog has blocked the potential float of an online foreign exchange broker, FX Primus, as concerns mount about the prevalence of brokers setting up shop in Australia to target forex punters in the region. FX Primus Group ...
ASIC: ICAP Futures (Australia) Pty Ltd pays $50,000 infringement notice penalty
May 14th, 2015
ICAP Futures (Australia) Pty Ltd (ICAP)has paid a total penalty of$50,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP found it had reason to believe that ICAP had contravened section 798H(1) ...
ASIC cancels FX company’s licence
May 12th, 2015
Following an investigation, ASIC has cancelled the Australian financial services (AFS) licence of FX provider Rainbow Legend Group Pty Ltd (Rainbow Legend) for failing to comply with its obligations, including making false and misleading statements. The move is part ...
ASIC bans Sydney finance broker and cancels licence
May 7th, 2015
ASIC has banned a Sydney finance broker from engaging in credit activities for three years and cancelled her Australian credit licence. An ASIC investigation found that Ms Siv Lim of Cabramatta had arranged credit for customers of a Parramatta ...
ASIC cancels AFS licences for failing to lodge annual statements
May 5th, 2015
ASIC has cancelled the Australian financial services (AFS) licences of four licensees that failed to lodge audited annual statements. These cancellations are the result of ASIC’s most recent proactive review of the conduct of 14 AFS licensees operating in ...
