Prime Minister Scott Morrison said: More stronger measures will be coming and they will be coming in more localized areas to deal with outbreaks. What that means is, what may be necessary in a part of Sydney may not be necessary at all in … other parts of the country. Treasurer Josh Frydenberg stated that…
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Two weeks back, the Australian Securities and Investments Commission (ASIC) released a consultation paper, which suggested that, since all other measures had failed to curb extraordinary losses caused by binary options and to a lesser extent by CFDs, the agency intended to ban binary options and severely restrict the use of CFDs. The measures were…
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The Australian Securities Exchange (ASX) announced today that it has teamed up with distributed ledger technology (DLT) specialist Digital Asset (DA) and VMware. The exchange has signed a three-party memorandum of understanding (MoU) to work together with the other two companies on DLT initiatives in Australia and New Zealand. This will include the development of…
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Clearstream has today completed the acquisition of Ausmaq Limited from National Australia Bank (NAB). LeapRate reminds that the company reached an agreement with NAB to acquire its Sydney-based specialist managed funds services business Ausmaq Limited back in May this year. Clearstream's expansion to the Australian funds market and the future set-up of Ausmaq will be…
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Australian regulator ASIC informed today that it has approved changes to the Australian Financial Complaints Authority (AFCA) Rules which give effect to the AFCA authorisation condition introduced by Government on 19 February 2019. The Government requires AFCA to give expanded access to the AFCA scheme for consumers and small businesses that were harmed by financial…
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ICOs have been very popular with investors and even teenagers. Youtube videos now teach people how they can create an initial coin offering of their own. And while some say they will surpass the IPO market at some point, some countries are still on the "watch-out" for this type of fundraising. One recent example is…
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Banks and financial institutions are all over the place with cryptocurrencies: they "love" them, they "hate" them. And while blockchain is sweeping the floor with new applications in hundreds of industries and companies, the future of cryptocurrencies is yet unclear. One surprising rumour right now is that the first cryptocurrency bank is going to open…
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ICOs are said to surpass the volume of IPOs in the future. Initial coin offerings are literally booming around the world, where even Youtube uploads education videos on how to create your own ICO. Many companies try to raise money by issuing tokens in several rounds and fund their business. What happens, however, when your…
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Bitcoin has become a global phenomenon, presenting opportunities and threats along the way all around the world. Regulators, CEOs, central banks and cryptocurrency startups are on the lookout for the next big news on bitcoin. Australia is the next "player" to impose bitcoin regulation, following a scandal with its biggest bank - Commonwealth Bank of…
Read moreA former director of one of the Kleenmaid group of companies, Bradley Wendell Young was sentenced to nine years imprisonment last Friday after being found guilty by a District Court jury of 18 offences arising out of the collapse of the national whitegoods distributor. The trial lasted for 71 days. Mr Young was sentenced to…
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