Search Results for: ASIC
ASIC welcomes ‘client money’ reforms
November 8th, 2016
ASIC today welcomed the Government’s decision to proceed with ‘client money’ reforms in respect of retail OTC derivatives. ‘The reforms to the client money regime will strengthen protection of client money that is provided by retail derivative clients. By ...
ASIC announced no debit fees for payday loans
November 4th, 2016
Following an independent review of payday lending laws, ASIC has taken steps to ensure consumers are not charged direct debit fees when taking out a small amount loan. This new rule will apply to any payday loan provided from ...
ASIC and Ontario Securities Commission sign agreement to support fintech companies
November 3rd, 2016
Innovative fintech companies in Australia and Ontario, Canada will be able to draw on support from the combined resources of their financial regulators as they seek to operate in the others’ market, under a new agreement. Under the agreement, signed ...
ASIC suspends AFS licence for failing to lodge financial statements
November 1st, 2016
ASIC suspended the Australian financial services (AFS) licence of Parramatta-based Rural & General Insurance Broking Pty Limited (RGIB) for failing to lodge financial statements, auditor’s reports and auditor’s opinions for the financial years ending 30 June 2014 and 30 ...
ASIC permanently bans former financial adviser
October 31st, 2016
ASIC has permanently banned former NSW financial adviser Mr Ashley Grant Howard from providing financial services after an investigation found he had: engaged in dishonest conduct; held out that trading he was conducting was authorised; provided financial services when ...
AAT affirms ASIC’s decision to refuse an application Clemente Group Holdings Pty Ltd for a derivatives/market maker licence
October 27th, 2016
The Administrative Appeals Tribunal (AAT) has affirmed ASIC’s decision to refuse an application from Clemente Group Holdings Pty Ltd (Clemente) seeking an Australian Financial Services (AFS) licence to provide various financial services, including to make a market in derivatives. ...
Findex Group and Financial Index Australia fined by ASIC
October 10th, 2016
Findex Group Limited and Financial Index Australia Pty Ltd (FIA) have each paid a $10,800 penalty following the issuing by ASIC of infringement notices for potentially misleading claims on the Findex website (www.findex.com.au). The Findex group of companies (which ...
ASIC warns AFS licensees to lodge financial statements and auditor’s reports on time
October 6th, 2016
ASIC has been pursuing Australian Financial Services (AFS) licensees that have failed to meet their obligation to lodge their annual financial statements and auditor’s reports with ASIC within the specified timeframe. Licensees with a financial year ending 30 June ...
ASIC takes civil action against Growth Plus Financial Group Pty Ltd and individual
October 4th, 2016
ASIC has commenced civil proceedings in the Supreme Court of Queensland against Ben Jayaweera and Growth Plus Financial Group Pty Ltd (in liquidation) (Growth Plus). On 11 March 2016 the Australian Taxation Office wound up Growth Plus in relation ...
ASIC permanently bans former Deutsche Bank FX trader
September 29th, 2016
ASIC has permanently banned former Deutsche Bank FX options and futures trader, Andrew Donaldson, of Sydney, from providing financial services. The banning follows an ASIC investigation into Mr Donaldson’s conduct in 2013 and 2014 in entering a significant number ...
