Australian financial services regulator ASIC is continuing its direction of clamping down on the activities of retail FX firms in its jurisdiction, this time revoking FX and CFD brokerage Rainbow Legend's AFS license for making false and misleading statements
Read moreAmong other aspects of Invast's marketing approach, ASIC took a dim view of the firm's assertion that trading in Forex CFDs allows customers to buy one currency whilst simultaneously selling another
Read moreWith the ability for fund managers, FX firms and IBs to passport funds between Australia and its Asia-Pacific neighbors, Australia could become the world's bridge to the most lucrative regions Australia is widely regarded as a highly valuable region from which Western firms can do business with the coveted Far East. The seizmic shift in…
Read moreRisk management and proper practice has prevailed in one specific OTC derivatives asset class in Australia - the trading of wholesale electricity Australia is well recognized among OTC derivatives firms worldwide as being a highly efficient jurisdiction in which to do business, a reputation which has gained it acclaim among many of the large FX…
Read moreThe Australian Senate is doing an inquiry into the performance of the Australian Securities and Investments Commission (ASIC) ASIC has been busy lately proving their worthiness as competent financial regulators. The watchdog is currently in the midst of a Senate inquiry into its activities and overall performance. A detailed statement from ASIC covers six issues,…
Read moreAustralian regulatory chief voices concern amid global FX rigging probe As we have been covering here at LeapRate, international investigations of price-rigging by banks and currency traders have now reached down under. Amid international pressure from other jurisdictions, Greg Medcraft, chairman of the Australian Securities and Investment Commission (ASIC), told the Financial Times last week:…
Read moreAustralia's financial markets regulator joins the FX rate manipulation probe, in order to investigate if misconduct occurred within its jurisdiction The global probe into alleged manipulation of FX rates by financial institutions has spread even further afield, with the Australian Securities and Investments Commission (ASIC) having declared today that it is commencing a review to…
Read moreFormer CEO of UCL resources Christopher Jordinson faces up to 10 years in prison Former CEO of Australian company UCL Resources Christopher Jordinson has admitted that he was participating in an insider trading scheme that involved his nephew and two other people. He tipped them off about an incoming takeover bid from Oman-based Mawarid Mining LLC earlier…
Read moreThe first of four pillars for a more effective market surveillance system is now operational Starting today ASIC has launched its new MAI (Market Analysis Intelligence) system which enables it to better monitor, investigate and take regulatory actions against trading breaches. According to Commissioner Cathie Armour the MAI is designed to thoroughly analyze real time…
Read moreAims to establish standards for those offering retail CFD trading.
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