Former financial adviser, Mr Darren John Wise, has been sentenced in the Maroochydore District Court to seven years imprisonment on charges brought by ASIC. Mr Wise will be eligible for parole after serving 20 months. Mr Wise, formerly of Rhodes NSW, had earlier pleaded guilty to one count each of forgery, using forged documents and…
Read moreASIC has warned of a dramatic increase in the extent of unlicensed conduct by retail OTC derivative providers seeking to expand their market with new customers for their complex and risky products such as binary options. ASIC has raised its concerns with more than 40 unlicensed providers. The majority are binary option issuers but also…
Read moreConcerns raised by the Australian Securities & Investments Commission (ASIC) have led to retail over-the-counter (OTC) derivative issuer Ikon (Australia) Pty Ltd (Ikon) to implement measures to rectify client trust accounts and improve disclosure. The company has agreed to separate client money held in compliance with its obligations under the Corporations Act, from money held…
Read moreThe Australian Securities & Investments Commission (ASIC) today announced that FXAsia Pty Ltd (FXAsia) has taken steps to update disclosure on its website (https://www.fxasia.com/) after the regulator voiced its concerns regarding the scope of the company's authorization and the claims on its website. The updates will inform visitors of the corporate website that FXAsia cannot currently…
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