Author Archives: ETE

ASIC has issued an interim stop order preventing Hirehood Pty Ltd (Hirehood) from offering securities under its crowd-sourced funding (CSF) offer document published on the VentureCrowd Pty Ltd intermediary platform. ASIC has made this interim order in the public interest to protect retail investors looking to invest in this offer. This is ASIC’s first use […]

ASIC has suspended the Australian financial services (AFS) licence of Responsible Entity Services Limited (Responsible Entity Services) until 11 June 2025. The AFS licence was suspended because Responsible Entity Services is under external administration. On 26 March 2024, Responsible Entity Services was placed into voluntary administration. Rachel Burdett and Barry Wight of Cor Cordis were […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focuses in May on the Position Paper with recommendations for more effective and attractive capital markets in the EU and includes a factsheet with the […]

Motmaen is a small payment institution that is registered to provide money remittance (ie money transfer) services. We removed its ability to provide these payment services. Motmaen must pay all its liabilities to its customers by 22 May 2024, this means that Motmaen must return any money it received from customers for transactions it did […]

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published its 2023 Annual Report, providing an account of the joint work completed over the past year. In 2023, under the EBA’s chairmanship, the Joint Committee continued to play a coordinating role to facilitate discussions and the exchange of information […]

ASIC has cancelled the Australian financial services (AFS) licence of Aussie Wealth Super Pty Ltd (Aussie Wealth Super) effective from 3 June 2024. The AFS licence was cancelled after ASIC received notification that liquidators had been appointed on 14 March 2024 and it had been resolved that Aussie Wealth Super be voluntarily wound up. The […]

ASIC has cancelled the Australian financial services (AFS) licence of retail over the counter (OTC) derivatives issuer XTrade.AU Pty Ltd (XTrade). XTrade offered clients opportunities to trade in contracts for difference (CFDs) and foreign exchange contracts (FX contracts). ASIC cancelled XTrade’s AFS licence after its investigation found that several vulnerable clients were encouraged to trade […]

ASIC is warning consumers about the misuse of ASIC’s logo on social media to promote fake investments and stock market trading courses and cold calling, and Telegram impersonations. ASIC has received a number of reports about ads for a ‘Stock Trading Master Class’. The ads have been seen on social media platforms, display the ASIC […]

The European Supervisory Authorities (EBA, EIOPA, and ESMA – the ESAs) today announced that they have concluded a multilateral Memorandum of Understanding (MoU) to strengthen cooperation and information exchange with the European Union Agency for Cybersecurity (ENISA). This multilateral MoU formalises the ongoing discussions between the ESAs and ENISA to strengthen their already close cooperation, […]

Dr Felix Martin has been appointed chair of the FCA’s new, independent Cost Benefit Analysis (CBA) Panel. Dr Martin will lead the Panel as it examines how the FCA and Payment Systems Regulator (PSR) assess the proportionality of proposed policy changes. It will provide advice to the regulators on preparing and improving CBAs. The FCA […]