Search Results for: ASIC

February 2, 2025 @ 6:26 pm By Omar Faridi  |  

ASIC has recently written to superannuation trustees urging them to strengthen anti-scam practices, or risk ex”posing members to harm.” The open letter, which is reportedly signed by ASIC Commissioner Simone Constant, outlines their guidance for superannuation trustees in “preventing, detecting and responding to scams and… Read More

December 15, 2024 @ 9:30 am By Michael Wong  |  

Decentralized Bitcoin mining protocol Prosper has acquired over 7,000 ASIC miners from BITMAIN and completed a strategic funding round backed by Metalpha, Waterdrip Capital, BIT Mining, and Animoca Brands, according to an announcement. The acquisitions and funding aim to expand Prosper’s institutional-grade Bitcoin hashrate capacity… Read More

September 19, 2024 @ 5:11 am By Omar Faridi  |  

ASIC expands operational resilience guidance for market participants. ASIC (in Australia) has officially released a letter to market participants “outlining technological and operational resilience guidance, clarifying how to identify critical business services and notification of a major event.” The guidance relates to the technological and… Read More

August 14, 2024 @ 11:22 am By JD Alois  |  

The Australian Stock Exchange (ASX) was once viewed as a pioneer in transitioning from legacy exchange technology – CHESS –  to blockchain or distributed ledger technology. The strategy was to create a “database architecture that solves a data reconciliation issue.” This has nothing to do… Read More

February 2, 2024 @ 10:53 am By JD Alois  |  

The Australian Securities and Investments Commission (ASIC) has received a “court-enforceable” decision addressing the operations of Elepay (Elevare Pay Easy Pty Ltd), a buy now pay the later provider (BNPL). According to a statement issued by ASIC, Elepay failed to Target Market Determination (TMD) before… Read More

October 14, 2023 @ 6:03 pm By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress that generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, “such as charging excessive fees, for basic information about their own accounts.” Under a 2010… Read More

September 26, 2023 @ 8:59 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has penalized Bobbob Pty for its representations about a crypto-asset-linked investment product. Bobbob has settled the claims by paying $53,280 to comply with ASIC’s “infringement notices.” In a statement, ASIC explained that it was concerned that Bobbob made… Read More

August 5, 2023 @ 3:42 pm By Omar Faridi  |  

ASIC has commenced proceedings in the Federal Court against online investment platform, eToro Aus Capital Limited, “regarding its contract for difference (CFD) product.” ASIC is alleging “breaches of design and distribution obligations and of eToro’s licence obligations to act efficiently, honestly and fairly.” The case… Read More

April 6, 2023 @ 10:56 am By JD Alois  |  

Announced today, the Australian Securities and Investments Commission (ASIC) has revoked the Australian financial services (AFS) license held by Oztures Trading Pty Ltd, trading as Binance Australia Derivatives. ASIC states that the cancellation took effect as Binance had requested the move. Binance will cease providing… Read More

October 17, 2022 @ 6:18 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has placed an interim stop order blocking Holon Investments Australia Limited from offering or distributing three funds to retail investors due to “non-compliant target market determinations (TMDs).” The order is for 21 days unless it is revoked. ASIC expects… Read More

October 4, 2022 @ 8:46 pm By Omar Faridi  |  

If you’re a professional at a financial institution and you want to learn more about biodiversity (related to sustainability), then you may consider an e-learning program that “teaches you the biodiversity basics.” The Biodiversity Working Group has “developed an e-learning tool on the biodiversity basics… Read More

September 5, 2022 @ 5:15 pm By Santiago Alvarado  |  

When you hear “crypto,” where does your mind go? Maybe you picture wealthy tech entrepreneurs or coders working in dark basements. Maybe it makes you think of scams, hacks, memes, or even Elon Musk. These are the stereotypes that mainstream media has ingrained in many… Read More

August 21, 2022 @ 9:05 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has posted its Corporate Plan, which seeks to chart its course over the next four years. As one may anticipate, it is heavy on tech-related items, including crypto or digital assets. Joseph Longo, Chair of ASIC, states in… Read More

April 26, 2022 @ 8:11 pm By Omar Faridi  |  

The Federal Court in Australia has reportedly ordered Westpac to pay penalties in the amount of $113 million “for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.” Justice Beach recently handed down his decision “in the last of… Read More

March 14, 2022 @ 8:57 am By JD Alois  |  

Leading UK-based property Fintech LendInvest has hired Greg Medcraft, former Head of Australia’s regulator, as Senior Advisor. Medcraft Commissioner and then Chairman of Australia’s financial services regulator, ASIC was from 2009 to 2017. Until last year, he was Director of the Directorate for Financial and… Read More

September 23, 2021 @ 9:30 am By Omar Faridi  |  

eToro, a multi-asset investment platform that empowers consumers to grow their knowledge and wealth as part of a global community of investors, reveals that it’s “reinforcing its commitment to opening the digital economy to the next billion global crypto users.” eToro confirmed in a release… Read More

July 8, 2021 @ 8:02 pm By Omar Faridi  |  

On July 5, 2021, the Financial Action Task Force (FATF) had completed its second 12-month review of the implementation of its updated Standards on virtual assets and virtual asset service providers or VASPs. A review from CipherTrace examines how different jurisdictions and the private sector… Read More

May 17, 2021 @ 7:38 am By Omar Faridi  |  

Yusef Jacobs, the 28-year-old Founder and Chief Executive at Graviti, aims to transform microfinance by allowing consumers to gain access to essential appliances. Jacobs believes that people who might not have a lot of funds will still pay for items they really need. Jacobs has… Read More

April 20, 2021 @ 9:15 pm By Omar Faridi  |  

On Tuesday, April 20, 2021, Coinbase Pro will be adding support for new order books for several major digital assets including the Basic Attention Token (BAT), Cardano (ADA), Decentraland (MANA) and USDC (USDC). As noted in a blog post by the digital assets firm, the… Read More

November 17, 2020 @ 11:19 am By JD Alois  |  

Bitconnect, a legendary crypto scam that was exemplified by a viral video, has emerged once again as the Australian Securities and Investment Commission (ASIC) has announced charges against Bitconnect promoter John Bigatton following a long investigation. From August 2017 to January 2018, Bigatton was said… Read More