Author Archives: ETE

Check against delivery Good morning everyone – and thanks to Diane and AFIA for the invitation to speak at the 2024 Risk Summit. I would like to begin by acknowledging the Wurundjeri people of the Kulin nation as the traditional owners of the land on which we meet. I pay my respects to their elders, […]

ASIC has restricted Energy World Corporation Limited (EWC) from issuing a reduced-content prospectus for listed entities for the next 12 months. ASIC was satisfied that EWC contravened its financial reporting obligations to comply with accounting standards. EWC has a number of liquefied natural gas projects under construction as well as overseas oil and gas exploration […]

ASIC has made two interim stop orders preventing Trademax Australia Limited from opening trading accounts or dealing in contracts for difference (CFDs) or margin foreign exchange contracts (margin FX) to retail investors. ASIC acted following concerns that Trademax failed to take reasonable steps likely to result in its retail product distribution conduct being consistent with […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its Position Paper on “Building more effective and attractive capital markets in the EU”. The Paper includes 20 recommendations to strengthen EU capital markets and address the needs of European citizens and businesses. ESMA’s recommendations for a well-functioning […]

Failures in the firm’s systems and controls led to US$1.4bn of equities being sold in European markets when they should not have been. On 2 May 2022, a CGML trader had intended to sell a basket of equities to the value of US$58m. The trader made an inputting error while entering the basket in an […]

ASIC has banned former financial adviser Gawad Nabi from providing financial services for a period of three years. Mr Nabi was an authorised representative of Life Plan FP Pty Ltd from 23 March 2018 to 31 March 2021, a director from 15 November 2019 to 30 December 2022, and a responsible manager from 19 January […]

The National Anti-Scam Centre (NASC) has released its Investment Scam Fusion Cell Report, which outlines findings of the first Fusion Cell co-led by Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commissions (ASIC) to combat investment scams. The Fusion Cell, which ran from August 2023 to February 2024, was designed to […]

Check against delivery Good evening, everyone: the Assistant Treasurer and Minister for Financial Services Stephen Jones, Commissioners, colleagues and guests. Welcome to the ASIC UTS AI Regulators Symposium. This has been in discussion for quite a while and I take a lot of personal satisfaction from this coming together, and a special thanks to Professor […]

ASIC has released Information Sheet 281 FAQS: Relevant providers – Accessing the experienced provider pathway (INFO 281) to provide guidance to financial advisers and Australian financial services (AFS) licensees about the experienced provider pathway following changes to the law made by the Treasury Laws Amendment (2023 Measures No. 3) Act 2023. Since 1 January 2019, […]

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is launching today a public consultation on non-equity trade transparency, reasonable commercial basis (RCB) and reference data under the Markets in Financial Instruments Regulation (MiFIR) review. ESMA’s proposals aim at enhancing the information available to stakeholders by improving, simplifying and further […]