US markets started climbing today after nearly two weeks with a 4% plus move in either direction during every trading session. Tesla shuts down US production. The company sank heavily in after-hours trading following the announcement that it is suspending US car production due to the pandemic. All asset classes sold as Sterling lowest since…
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Until 13 March, Longhou has 18 representatives with authorization, providing financial services on the company's behalf. The suspension of Longhou 's AFS licence means that the representatives must immediately cease providing financial services Read More: ASIC releases new regulation for foreign financial services providers ASIC takes steps to ensure stability of Australian equity market ASIC cancels RVM Capital’s…
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The Australian Securities and Investment Commission (ASIC), has taken measures to ensure the resiliency of the Australian equity market as part of the Government’s response to Covid-19 outbreak. During the last two weeks, the Australian equity market has seen record trading volumes. ASIC and other Council of Financial Regulators agencies, have kept a close eye…
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Looking back at the most intriguing and popular Forex industry news from the past week at LeapRate. This Wednesday, the Bank of England cut interest rates by 50 basis points to 0.25% in a near unprecedented step, taking them back to a record low level not seen since the financial crisis. Reacting to the expected fallout…
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ASIC has released new regulation for foreign financial services providers (FFSPs) that service Australian wholesale clients. Cathie Armour, ASIC Commissioner, noted: Our new regulatory framework facilitates Australian wholesale access to foreign investment opportunities, preserves market integrity against misconduct in wholesale markets, and strengthens ASIC's ability to take effective regulatory and supervisory action. Our ability to…
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ASIC has cancelled the Australian financial services (AFS) licence of RVM Capital for not submitting its annual financial statements for three years in a row. RVM Capital held AFS licence number 457140 and it was cancelled from 21 January 2020. These measures are part of ASIC’s intention to raise and improve the requirements for…
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Regulation provides with trust in the otherwise risky industry, it gives Forex brokers framework to guide them. Licenses mean that brokers have gone through a vetting process, their legitimacy has been confirmed. Thus, making them safer in holding your money and accessing investments and financial markets. Licenses help brokers to form and maintain meaningful partnerships…
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Australian regulator ASIC announced earlier today that it is seeking feedback on proposals to grant relief for voluntary escrow arrangements and pre-prospectus communications in connection with an initial public offer (IPO). Currently companies that are considering undertaking an IPO must apply to ASIC for individual relief and pay application fees. The watchdog is about to…
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Australian Securities and Investments Commission (ASIC) announced today the permanent ban of Queensland financial adviser Warren Scott Acworth from providing financial services. The investigation that led to the ban looked into Acworth’s conduct between December 2015 and May 2018 when he was working as adviser with Macquarie Equities Limited and in particular trading activities on…
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The Federal Court found One Tech Media Ltd, (OTML), Allianz Metro Pty Ltd, Eustace Senese and Yoav Ida in breach of the Corporations Act for pressure sale of binary options. The Seychelles-based company OTML was caught trading binary options without Australian Financial Services Licence (AFSL) and without providing the necessary product disclosure statements. Justice Davis…
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