Tagged: asic

March 29, 2026 @ 7:51 pm By Omar Faridi  |  

The Federal Court has ordered Oztures Trading Pty Ltd, operating as Binance Australia Derivatives, to pay a A$10 million civil penalty for widespread failures in classifying clients during a nine-month period in 2022–2023. The company, part of the global Binance Group—the world’s largest cryptocurrency exchange… Read More

February 2, 2025 @ 6:26 pm By Omar Faridi  |  

ASIC has recently written to superannuation trustees urging them to strengthen anti-scam practices, or risk ex”posing members to harm.” The open letter, which is reportedly signed by ASIC Commissioner Simone Constant, outlines their guidance for superannuation trustees in “preventing, detecting and responding to scams and… Read More

September 19, 2024 @ 5:11 am By Omar Faridi  |  

ASIC expands operational resilience guidance for market participants. ASIC (in Australia) has officially released a letter to market participants “outlining technological and operational resilience guidance, clarifying how to identify critical business services and notification of a major event.” The guidance relates to the technological and… Read More

August 14, 2024 @ 11:22 am By JD Alois  |  

The Australian Stock Exchange (ASX) was once viewed as a pioneer in transitioning from legacy exchange technology – CHESS –  to blockchain or distributed ledger technology. The strategy was to create a “database architecture that solves a data reconciliation issue.” This has nothing to do… Read More

July 22, 2024 @ 4:31 pm By Omar Faridi  |  

Airwallex, the Australia-founded financial platform for modern businesses, has reportedly become the first major payments company to be granted an Australian Financial Services Licence (AFSL) by the Australian Securities and Investment Commission (ASIC) to offer businesses access to retail investment products. This is an additional… Read More

February 2, 2024 @ 10:53 am By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has received a “court-enforceable” decision addressing the operations of Elepay (Elevare Pay Easy Pty Ltd), a buy now pay the later provider (BNPL). According to a statement issued by ASIC, Elepay failed to Target Market Determination (TMD) before… Read More

September 26, 2023 @ 8:59 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has penalized Bobbob Pty for its representations about a crypto-asset-linked investment product. Bobbob has settled the claims by paying $53,280 to comply with ASIC’s “infringement notices.” In a statement, ASIC explained that it was concerned that Bobbob made… Read More

September 22, 2023 @ 8:46 am By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has sued Bit Trade Pty, a partner of Kraken that services clients in Australia. According to a statement issued by the regulator, Bit Trade has “failed to comply with the design and distribution obligations for the margin trading… Read More

August 11, 2023 @ 9:46 am By JD Alois  |  

ASIC (Australia Securities and Investments Commission) has filed suit against Active Super (LGSS Pty Limited), alleging “misleading conduct and misrepresentations to the market relating to claims it was an ethical and responsible superannuation fund.” According to ASIC, Active Super claimed to invest in assets that… Read More

July 18, 2023 @ 10:23 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has canceled the Australian financial services (AFS) license held by FTX Australia Pty Ltd effective from 14 July 2023. FTX Australia is a subsidiary of FTX that is in bankruptcy in US courts. FTX Australia was placed into… Read More

July 5, 2023 @ 12:02 pm By Omar Faridi  |  

Binance Australia offices were recently searched by regulatory authorities as a key part of a derivatives probe. ASIC has reportedly visited the offices of Binance in Australia on Tuesday (July 4, 2023). The digital asset exchange claims that it remains focused on complying with applicable… Read More

April 6, 2023 @ 10:56 am By JD Alois  |  

Announced today, the Australian Securities and Investments Commission (ASIC) has revoked the Australian financial services (AFS) license held by Oztures Trading Pty Ltd, trading as Binance Australia Derivatives. ASIC states that the cancellation took effect as Binance had requested the move. Binance will cease providing… Read More

October 17, 2022 @ 6:18 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has placed an interim stop order blocking Holon Investments Australia Limited from offering or distributing three funds to retail investors due to “non-compliant target market determinations (TMDs).” The order is for 21 days unless it is revoked. ASIC expects… Read More

August 21, 2022 @ 9:05 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has posted its Corporate Plan, which seeks to chart its course over the next four years. As one may anticipate, it is heavy on tech-related items, including crypto or digital assets. Joseph Longo, Chair of ASIC, states in… Read More

June 8, 2022 @ 8:32 am By JD Alois  |  

Currencycloud, a payments and transfer Fintech based in London, has received a license to operate in Australia granted by the Australian Securities and Investments Commission (ASIC). Currencycloud said it may now offer its “full suite” of services to Australian clients. This past January in advance… Read More

April 26, 2022 @ 8:11 pm By Omar Faridi  |  

The Federal Court in Australia has reportedly ordered Westpac to pay penalties in the amount of $113 million “for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.” Justice Beach recently handed down his decision “in the last of… Read More

March 14, 2022 @ 8:57 am By JD Alois  |  

Leading UK-based property Fintech LendInvest has hired Greg Medcraft, former Head of Australia’s regulator, as Senior Advisor. Medcraft Commissioner and then Chairman of Australia’s financial services regulator, ASIC was from 2009 to 2017. Until last year, he was Director of the Directorate for Financial and… Read More

November 17, 2020 @ 11:19 am By JD Alois  |  

Bitconnect, a legendary crypto scam that was exemplified by a viral video, has emerged once again as the Australian Securities and Investment Commission (ASIC) has announced charges against Bitconnect promoter John Bigatton following a long investigation. From August 2017 to January 2018, Bigatton was said… Read More

April 15, 2020 @ 11:06 pm By JD Alois  |  

Necessity is the mother of invention. This we know. Sportsbet, an Australian online bookmaker, saw betting tank just like most other businesses as the COVID-19 pandemic spread. At the end of March Stuart Allott, Sportsbet head of corporate affairs, told BI Australia: “Given the unprecedented… Read More

February 13, 2020 @ 5:57 am By Omar Faridi  |  

The Australian government passed the Treasury Laws Amendment (2018 Measures No. 2) Bill 2019 on February 10, 2020. The bill has been introduced in order to extend the overall scope and time period Fintech firms may spend on the country’s current framework. Updating the existing… Read More