The application of market surveillance systems in ASIC's method of financial regulation has enabled its regulatory enforcement team to effectively bring wrongdoers to book, and to work with firms in order to refine compliance procedures
Read moreRussell Andrew Johnson, former director of former Saxo Bank A/S IB Sonray Capital Markets has been committed to six years imprisonment as a result of the company's $46 million demise. The series of events which led to the final sentencing of Russell Johnson, former director of Sonray Capital Markets, by the Australian authorities has…
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 moreAustralian financial markets regulator responds to application filed to terminate AFS license after concerns had been raised over license obligations The Australian Securities and Investments Commission (ASIC) has today announced that it has terminated the Australian Financial Services license of AIE Fiduciary Services, a company which provided financial product advice relating to securities, derivatives and…
Read moreThe company (unknowingly) engaged in offering managed discretionary accounts The Australian regulator ASIC has issued a press release that details an enforceable action against online forex broker Forex Financial Services Ltd (Forex FS). An investigation which was carried out by Australian authorities has found that between March 2010 and October 2011 the brokerage has been…
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