Only individuals or corporations who hold Australian Financial Services (AFS) licence can provide financial advice by law. Most finfluencers do not hold such licence and if they are found to be running a financial services business without being authorised representatives of an AFS licensee, they may be in breach of the Corporations Act 2001. And…
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DataBP’s platform supports the quick addition of new products and the scalability to enable the diversification of subscribers and vendor relationships. Joyce Tan, Head of Market Data Development & Delivery at SGX, said: Our partnership with DataBP and the inception of SGX Data Direct offers a direct online channel of engagement with our end-clients. It…
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According to the details provided by ASIC, Hala used over $5.7 million of A One Multi’s funds for his and Walters’ personal benefit by acquiring property and luxury vehicles. In order to protect investors, on 21 October 2021, ASIC ordered Hala to transfer crypto-assets in his name to the receivers. The regulator noted that it…
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The new regulatory guidance follows ASIC’s public consultation on crypto-assets in June 2021. The new guidelines include good practices for market operators and information on admission and monitoring standards, custody of crypto-assets, pricing methodologies, disclosure and risk management. Armour added: The good practices we published provide practical examples of how these obligations may be met,…
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Jacob Rank-Broadley, Head of LIBOR Transition, Benchmarks & Indices at LSEG, said: As the global financial markets migrate away from LIBOR, the launch of our Tokyo Swap Rate (for swaps referencing TONA) serves as a critical step to facilitate this transition to the new market convention. Now more than ever the industry requires robust and…
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Deutsche Bank highlighted its growing presence in the APAC region, moving up the list of the top-ranked liquidity providers in APAC in Euromoney’s annual FX Survey. Chris Bezuidenhout, CIO for Corporate & Investment Bank in APAC and Global Emerging Markets said: We continue to invest in sharpening our technology to ensure that our electronic offering…
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Saxo Markets’ fintech background and understanding of the local market will allow the company to provide a more personalised asset management options to investors at a lower fee threshold. Head of Wealth Management and Responsible Officer of Saxo Markets, Lester Chan said: Investors in Hong Kong now are very much digital-savvy. They are looking for…
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HSBC’s outlook for revenue remains positive with expectations to see growth, moving forward. The company also noted that it remains committed to the ESG agenda and continues to make progress. Quinn continued: While we retain a cautious outlook on the external risk environment, we believe that the lows of recent quarters are behind us. This…
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The Aussie watchdog noted that for the first three months since the order took effect, ASIC has seen significant improvements in key metrics of retail client losses from CFD trading. The regulator stated that retail clients’ net losses from CFD trading decreased 94% of the quarterly average of $372 million in the year prior to…
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Mark McGinness commented: The rapid mainstream adoption of blockchain and crypto technology signals a need for a deeper understanding and appreciation among governments, regulatory bodies and users alike. I aim to bridge this divide through working closely with industry leaders and policymakers to not only set best practices and regulatory frameworks, but also broaden their…
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