Search Results for: ASIC
ASIC updates licence conditions on online broker
August 3rd, 2017
ASIC and OpenMarkets Australia Limited (OpenMarkets) have agreed for an independent expert to monitor, evaluate and report on OpenMarkets’ implementation of recommendations arising from an independent review of its trading and compliance arrangements. The independent expert completed their review ...
ASIC takes action to wind up land banking scheme and its operator
July 17th, 2017
ASIC has commenced proceedings in the Federal Court of Australia to wind up a land banking scheme known as the VKK Investments Unit Trust (VKK scheme), as well as the trustee and operator of the scheme, Gem Management Group ...
ASIC commences proceedings against former managing director of Banksia Securities Limited
June 27th, 2017
ASIC has commenced civil penalty proceedings in the Federal Court of Australia in Melbourne against Patrick John Godfrey, former managing director of Banksia Securities Limited (In Liquidation) (Receivers and Managers Appointed) (Banksia). ASIC alleges that: Banksia’s financial reports for ...
ASIC reports on supervision of registered liquidators for 2016
June 22nd, 2017
ASIC today released its sixth annual report into the supervision of registered liquidators. Report 532 ASIC regulation of registered liquidators: January to December 2016 details the supervisory, enforcement, stakeholder liaison, policy and educative work ASIC undertook in its commitment ...
ASIC Cancels the Financial Services License of a Firm
June 7th, 2017
ASIC has cancelled the Australian financial services (AFS) licence of Sydney based company Investment Advisers Alliance Pty Limited (AFS 237902) for failing to lodge its financial statements and auditor’s reports for four consecutive years. ASIC Deputy Chairman Peter Kell ...
ASIC cancels Gallop International’s Australian financial services licence
May 29th, 2017
ASIC has cancelled the Australian financial service licence (AFS) licence of Gallop International Group Pty Ltd, formerly known as Weather Pro Exchange Pty Ltd (ACN 147 664 551) (Gallop). The cancellation of the AFS licence is effective from 24 May 2017. ...
ASIC proposes next steps on regtech
May 26th, 2017
ASIC will establish a new regtech industry liaison network, conduct a number of new technology trials using regtech applications and establish a ‘hackathon’ later this year to help identify roadblocks to the successful and rapid take-up of the sector. ...
ASIC suspended Firm’s financial services licence
May 23rd, 2017
Australian financial services licence suspended for failing to lodge financial statements ASIC has suspended the Australian financial services (AFS) licence of NSW-based Divitiarum Audax Pty Limited (‘Divitiarum Audax’) from 8 May 2017 for failing to lodge financial statements and ...
ASIC accepts enforceable undertaking from Macquarie Bank to address inadequacies within their wholesale FX businesses
May 19th, 2017
ASIC has today accepted an enforceable undertaking (EU) from Macquarie Bank Limited in relation to the bank’s wholesale foreign exchange (FX) businesses, following an ASIC investigation. ASIC is concerned that the bank failed to ensure that its systems and ...
ASIC consults on ‘sunsetting’ class orders about licensing relief for financial counselling agencies and rural financial counselling service providers
May 17th, 2017
ASIC today released a consultation paper proposing to remake three ASIC instruments relating to financial counsellors, which are due to expire between 1 October 2017 and April 2026. ASIC proposes to: Remake, without significant changes, Class Order ...
