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ASIC warns of scam investment opportunities in new alert list

The list targets domestic and international entities the regulator suspects of offering services to Australians without the appropriate licenses or permission. It already contains more than 1,300 names.

Staff Writer | 15th Nov 2023 | More
‘Be prepared to lose all of your money’: Retail investors warned to avoid hype

Ahead of screenings of a new film about the 2021 GameStop short squeeze, Australians will see a warning about the risks and regulatory perils of social media and market manipulation, part of a new ASIC campaign aimed at preventing ‘dumb money’ losses.

Lisa Uhlman | 1st Nov 2023 | More
OTC derivatives under fire as ASIC probes retail product marketing

In a review of financial product issuers’ compliance with requirements meant to ensure complex and high-risk investments are kept out of the wrong hands, the regulator found room for improvement – and reminded issuers of its enforcement powers.

Lisa Uhlman | 13th Sep 2023 | More
  • ASIC unveils plan to protect vulnerable consumers, small businesses

    The regulator will target predatory lending practices and misconduct against small business, with a focus on scams, particularly where conduct hurts retirement outcomes. It’s also looking into how banks responds to customers in financial distress.

    Lisa Uhlman | 30th Aug 2023 | More
    Bitcoin could soar to US$180,000 if BlackRock ETF approved, analysts say

    A BlackRock bitcoin ETF could add an extra $100 million in daily demand for the cryptocurrency, pumping up the price. If US regulators approve the product as expected, analysts expect big tailwinds for the entire crypto ecosystem.

    Nicki Bourlioufas | 4th Aug 2023 | More
    eToro sued for marketing high-risk CFDs to unsophisticated investors

    In an August 2 lawsuit, ASIC says the online investment platform improperly targeted unsophisticated investors for volatile and risky contract-for-difference products, which 77 per cent of its retail clients lose money on.

    Lisa Uhlman | 4th Aug 2023 | More
  • Openmarkets cops record fine over renewed wash trades by problem client

    It’s the second time ASIC fined Openmarkets over its handling of market-manipulating wash trades by the same client, but the retail broker’s agreement to an enforceable undertaking led to a reduced penalty.

    Lisa Uhlman | 7th Jul 2023 | More
    Investor trust skewing back towards banks and advisers: ASX

    The public appears to be rewarding efforts to reshape the banking and financial advice industry after the royal commission, with advisers and the banks both enjoying an increase in faith from the community.

    Tahn Sharpe | 21st Jun 2023 | More
  • ‘Doing nothing is not an option’: BNPL products to be regulated as credit

    Buy-now-pay-later products look like credit, act like credit and carry the risk of credit, so they should be subject to the same regulatory scrutiny as credit products, the financial services minister said.

    Lisa Uhlman | 31st May 2023 | More
    ASIC slams financial product issuers for bad marketing practices

    The regulator has issued 26 stop orders against 18 companies for failing to adequately target financial products to the appropriate market since the “design and distribution obligations” regime began, it said in an initial compliance review. And it warned that closer scrutiny is coming.

    Lisa Uhlman | 5th May 2023 | More
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