Search Results for: ASIC
ASIC cancels financial services licence
August 17th, 2016
ASIC has cancelled the Australian financial services licence held by Marigold Falconer International Limited (Marigold Falconer). Marigold Falconer was unable to satisfy ASIC that it could obtain insurance cover for the services it was authorised to provide under the ...
ASIC’s enforcement report highlights key enforcement outcomes for January-June 2016
August 8th, 2016
ASIC has today released its enforcement report for the period 1 January 2016 to 30 June 2016. The report highlights ASIC’s long-term challenges and areas of focus going forward, as well as outcomes supporting those areas, including: balancing a ...
ASIC cancels licence of Pacific Millennium International Investment Group Pty Ltd
August 5th, 2016
ASIC has cancelled the Australian financial services (AFS) licence of Pacific Millennium International Investment Group Pty Ltd (PMIIG) after it was found to have breached the obligations of a financial services licensee. PMIIG was authorised under its AFS licence ...
ASIC warns investors about Titantrade.com
August 4th, 2016
ASIC is warning the public not to click on any advertising being marketed under the brand ‘Titantrade’, a website by which trading in binary options is being offered. A binary option is a financial product, in particular a derivative, ...
ASIC cancels AFS licence for failing to lodge financial statements
July 26th, 2016
ASIC has cancelled the Australian financial services (AFS) licence of Sydney-based Edwards Benefits Advisors Pty Ltd (Edwards Benefits) for failing to comply with a number of key obligations as a financial services licensee. In particular, ASIC found that Edwards ...
ASIC cancels the AFS license of ICBC Capital Pty Ltd
July 20th, 2016
ASIC has cancelled the Australian Financial Services (AFS) licence of ICBC Capital Pty Ltd (in liquidation) (ACN140 629 296). ICBC was formerly known as Komodo Capital Pty Ltd. ASIC took this action as ICBC had been placed in liquidation ...
ASIC crackdown on 40 unlicensed retail Binary Options and FX providers
July 6th, 2016
ASIC has warned of a dramatic increase in the extent of unlicensed conduct by retail OTC derivative providers seeking to expand their market with new customers for their complex and risky products such as binary options. The recent Report ...
XTrade to change client money practices following ASIC surveillance
July 1st, 2016
As a result of ASIC’s intervention, licensed retail OTC derivatives issuer XTrade.au Pty Ltd (AFSL No. 343628) (XTrade), formerly O.C.M. Online Capital Markets Pty Ltd, will implement changes to the way it handles client money. ASIC’s surveillance raised concerns ...
ASIC cancels licence of AFS wholesale service provider
June 29th, 2016
ASIC has cancelled the Australian financial services (AFS) licence of Ergo Capital Pty Ltd (AFS licence No 420978) for failing to comply with a number of its obligations as a financial services licensee, including: lodgement of its financial statements ...
ASIC releases report highlighting significant failures in the retail OTC derivatives industry
June 22nd, 2016
ASIC releases report highlighting significant failures in the retail OTC derivatives industry ASIC today released a report detailing the findings of a recent surveillance program and identifying some serious and widespread compliance failures in the retail over-the-counter (OTC) derivatives ...
