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Showing 21 - 30 of 131 results for "CFD"

Class action filed against IC Markets

JAMIE WILLIAMSON  |  THURSDAY, 8 FEB 2024
Piper Alderman has formally filed its class action against International Capital Markets (IC Markets) for offering contracts for difference to retail investors. The law firm began investigating the potential for a class action in October 2023. Now filed ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
... Melbourne-based over-the-counter (OTC) derivatives issuer Prospero Markets (Prospero). The penalty comes after the Forex and CFD trading platform, which services mainly Chinese-speaking clients, failed to lodge its annual financial statement and audit ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
... clients lose money trading CFDs. For example, between March and April 2020, users lost over $774 million based on a sample of 13 CFD issuers. In October 2020, following the boom in retail investors at the outset of the pandemic, ASIC imposed an 18-month ...

Piper Alderman investigates second CFD class action

CHLOE WALKER  |  WEDNESDAY, 25 OCT 2023
Piper Alderman is examining a second class action in relation to contracts for difference (CFD) products, this time against International Capital Markets Limited (IC Markets). The action is on behalf of retail investors who claim to have collectively ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
ASIC continues to crack down on providers of contracts for difference (CFD), options and other high-risk products that flout their target market determinations (TMD), and design and distribution obligations (DDO). The newly published Report 770 Design ...

Saxo APAC asset management lead exits

KARREN VERGARA  |  MONDAY, 4 SEP 2023
The head of Saxo Markets' asset management for Asia Pacific has left the company after two years. Sydney-based Manish Prasad was appointed to the role in June 2021 and has recently left the firm, Saxo confirmed. Prasad was hired at a time when Saxo ...

Veteran adviser cops permanent ban

KARREN VERGARA  |  TUESDAY, 15 AUG 2023
ASIC permanently banned a financial adviser who has been advising for 34 years after an investigation found, among other violations, that he misappropriated funds and dealt in derivatives without the proper authorisations. Donald James Cuthbertson ...

ASIC looking to send message with eToro action

CASSANDRA BALDINI  |  WEDNESDAY, 9 AUG 2023
... launching legal proceedings against eToro, the regulator said it's going after the top dog in the contract for difference (CFD) market to send a message to the industry about the importance of the design and distribution obligations (DDO). During ...

eToro sued by ASIC

ANDREW MCKEAN  |  THURSDAY, 3 AUG 2023
... proceedings against eToro, alleging breaches of design and distribution obligations regarding its contract for difference (CFD) product. The case focuses on the appropriateness of eToro's target market, and the screening test used by the online investment ...

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
Financial advisers from large aligned AFSL groups bear the brunt of complaints, according to the Australian Financial Complaints Authority's data, with several AMP and Insignia Financial practices leading the pack. Modelling of the AFCA data shows ...