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Showing 1 - 10 of 10 results for "Product intervention order"

ASIC returns $40m of CFD losses

ELIZA BAVIN  |  TUESDAY, 20 JAN 2026
... weaknesses in how CFD issuers complied with their design and distribution obligations (DDO), ASIC's CFD product intervention order (PIO) and regulatory reporting requirements. ASIC found more than half the CFD sector had contravened the PIO by offering ...

ASIC extends intervention orders against predatory lenders

CHLOE WALKER  |  MONDAY, 8 JAN 2024
ASIC has prolonged its product intervention orders for short-term and continuing credit contracts in a bid to protect vulnerable retail investors. The orders, which were first implemented in July 2022, will now be extended until 1 October 2032, or until ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
... 2020, following the boom in retail investors at the outset of the pandemic, ASIC imposed an 18-month product intervention order on the issue and distribution of CFDs, effective 29 March 2021. This was extended in April 2022 to May 2027. ASIC reported ...

Class action commenced against IG Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 MAY 2023
... March and April 2020, more than $774 million was lost trading CFDs, ASIC found. The regulator imposed a product intervention order on the issue and distribution of CFDs in March 2021. In the first three months of the order, ASIC reported average net ...

Proposed CFD class action targets IG Markets

JAMIE WILLIAMSON  |  TUESDAY, 11 OCT 2022
... March and April 2020, more than $774 million was lost trading CFDs, ASIC found. The regulator imposed a product intervention order on the issue and distribution of CFDs in March 2021. In the first three months of the order, ASIC reported average net ...

ASIC extends binary options ban

ANDREW MCKEAN  |  TUESDAY, 6 SEP 2022
ASIC has extended its product intervention order banning the issue and distribution of binary options to retail clients until 1 October 2031. Since coming into effect in May 2021, the ban has successfully prevented retail clients from losing money trading ...

ASIC looks to extend CFD intervention

ELIZABETH MCARTHUR  |  TUESDAY, 19 OCT 2021
... intervention powers on contracts for difference (CFDs) until they are revoked or sunset in 2031. The product intervention order will expire on 23 May 2022 unless it is extended with the approval of the government. ASIC made the intervention order in ...

ASIC cracks down on binary options

ELIZABETH MCARTHUR  |  THURSDAY, 1 APR 2021
... investment or risk management use by retail clients," ASIC commissioner Cathie Armour said. "ASIC's product intervention order will protect retail investors from these harmful products at a time of heightened vulnerability." A binary option is a cash-settled ...

ASIC to curb huge CFD losses

KARREN VERGARA  |  FRIDAY, 23 OCT 2020
... of dollars from trading highly risky contract for difference (CFDs) instruments. ASIC has imposed a product intervention order on the issue and distribution of CFDs effective 29 March 2021 for 18 months. Among the many changes, leverage will be restricted ...

ASIC lays out product intervention plans

HARRISON WORLEY  |  THURSDAY, 18 JUN 2020
... intends to use the powers, to seek feedback on its plans. It warned though that it may propose a draft product intervention order during consultation before going on to make an entirely different order based on the consultation process. ASIC deputy chair ...
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