New laws to protect financial service consumers in Australia LeapRate

April 04, 2019 BY Valentina Kirilova

New laws to protect financial service consumers in Australia

Australian regulator ASIC just announced that it has welcomed the passage of key financial services reforms contained in the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) legislation. The reforms will include: a design and distribution obligations regime for financial services firms; and a product intervention power for ASIC In less than…

April 14, 2015 BY Andrew Saks-McLeod

CFTC and Australian Prudential Authority sign memorandum of understanding on cross border regulation

US and Australian authorities have signed an agreement to cooperate with regard to the supervision and oversight of regulated firms that operate on a cross-border basis in the United States and in Australia

January 30, 2015 BY Andrew Saks-McLeod

ASIC releases enforcement report for H2 2014 - Retail FX high on regulator's list of priorities

Within the last six months of 2014, ASIC took stringent action against a number of FX companies, and voiced its trepidation toward the practices of certain firms. Commissioner Greg Tanzer has stated today that retail FX trading is a matter which features as an important part of the regulator's agenda

October 13, 2014 BY Andrew Saks-McLeod

ASIC takes FX signals and managed account provider to federal court

Australian authorities continue to clamp down on retail FX firms across all sectors of the business, today announcing that it has taken Monarch FX to court in order to restrain its business operations.

August 12, 2014 BY Andrew Saks-McLeod

ASIC homes in on CFD fraud as trader appears in court

Australian financial regulator ASIC alleges that Mr Fei Yu gained insider information relating to CFDs from which he profited $20,000. He now faces a potential jail term and $220,000 fine.

July 01, 2014 BY Mike Fox

Australia’s regulators publish conventions for currency market

Australia’s regulators published conventions for the currency market, underscoring a push to shore up standards in the $5.3 trillion-a-day industry. The Australian Foreign Exchange Committee and the Australian Financial Markets Association released the document today, thru their websites. It defines currency and options products and provides guidelines for dealing methods and pricing. The release follows…

April 16, 2014 BY Gerald Segal

Reuters to Host 2nd Australian Regulatory Summit in Sydney

FX to be a topic at the 2nd annual summit hosted by Reuters in May Thomson Reuters announced the 2nd Australian Regulatory Summit will be hosted in Sydney on May 13, 2014, with support from the Australia Securities and Investments Commission (ASIC), Australian Prudential Regulation Authority (APRA), The Office of The Privacy Commissioner, Hong Kong…

March 20, 2014 BY Andrew Saks-McLeod

ASIC releases market supervision report for period July to December 2013

ASIC's half-yearly report on the supervision of market participants reveals 19,255 trading alerts, and continues its drive toward automated surveillance Australia is a region which a great many FX company executives have been following with a keen eye recently, mainly due to its close proximity to the Asia Pacific region from which all FX firms globally…

March 19, 2014 BY Andrew Saks-McLeod

Foul Play Down Under? ASIC Joins The Party of FX Manipulation Probes

Australia'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…

November 25, 2013 BY Gerald Segal

Australia's ASIC launches First Derivatives MAI system to monitor trading

The 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…

Tag: Australian regulation