Brokerage Author

The Australian arm of South African financial services conglomerate Sanlam Group will need to have its compliance processes reviewed by an independent expert after it admitted to breaching its licensee obligations and provided a court enforceable undertaking (CEU) to ASIC. ASIC’s investigation into Sanlam Private Wealth Pty Ltd (Sanlam) uncovered concerns that the Australian financial …

Sanlam admits to inadequate oversight of authorised representatives Read More »

Last Friday, 20 December 2024, Vittorio Letizia, of Cottesloe, Perth appeared at Perth Magistrates’ Court charged with five counts of insider trading in connection with purchases made in Genesis Minerals Limited shares in September 2021. ASIC alleges that Mr Letizia engaged in insider trading on five occasions in September 2021 when he purchased Genesis shares …

Perth accountant charged over alleged insider trading in Genesis Minerals shares Read More »

David Sipina of Prairiewood NSW, a former contractor and promoter of Courtenay House investments, has been sentenced to three years’ imprisonment, to be served by way of an intensive correction order, for his role in the unlicensed Courtenay House financial services business. On 20 December 2024, Mr Sipina pleaded guilty in the Coffs Harbour District …

Third person sentenced for Courtenay House misconduct Read More »

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published a Feedback Statement summarising the responses it received to its Consultation Paper (CP) on the securitisation disclosure templates under the Securitisation Regulation (SECR). The Feedback Statement provides a detailed analysis of stakeholder feedback on the costs and benefits of …

ESMA publishes feedback received to proposed review of securitisation disclosure templates Read More »

The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today kicked off a joint recruitment process for Heads of Unit (AD9) in the Joint Oversight team that was set up to carry out the oversight of the Information and Communication Technology Critical Third-Party Providers (CTPPs) under the Digital Operational Resilience Act (DORA). The Heads …

ESAs are recruiting Heads of Unit for their DORA Joint Oversight Team Read More »

The Bank of England (Bank), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and the Payment Systems Regulator (PSR) (the Authorities) have a Memorandum of Understanding (MoU) which sets out the high-level framework that we use to cooperate with one another in relation to payment systems in the UK. The Financial Services (Banking …

Bank of England, FCA, PRA and PSR conduct 2024 review of Memorandum of Understanding for payment systems in the UK Read More »

Two FCA investigations involving unauthorised debt and claims management activities have resulted in arrests. The FCA, with the support of West Midlands Police, the Eastern Region Special Operations Unit and Police Scotland, has recently conducted 2 operations to search 7 addresses across the West Midlands, Cambridgeshire, Stirling and Cumbernauld. Two individuals were arrested in Birmingham …

FCA executes search warrants in investigations involving unauthorised business Read More »

The Federal Court today found that collapsed contracts for difference (CFD) issuer, Union Standard International Group Pty Ltd (USG) and two of its former corporate authorised representatives, BrightAU Capital Pty Ltd (trading as TradeFred) and Maxi EFX Global AU Pty Ltd (trading as EuropeFX), engaged in systemic unconscionable conduct as well as a raft of …

Federal Court finds CFD issuers engaged in systemic unconscionable conduct with customer losses totalling over $83 million Read More »

ASIC has suspended the Australian financial services (AFS) licence of Equtise Pty Ltd (Equitise) until 10 February 2025. The AFS licence was suspended because Equitise is under external administration. On 31 October 2024, Equitise was placed into voluntary administration. Mohammad Mirzan Bin Mansoor and Damien Mark Hodgkinson of Olvera Advisors Pty Ltd were appointed as …

ASIC suspends AFS Licence of Equitise Pty Ltd Read More »

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today launched a consultation on draft Guidelines related to the Internal Control Framework for some of its supervised entities. The proposed draft Guidelines build on the Internal Control Guidelines currently in place for Credit Rating Agencies and extend them to …

ESMA consults on the Internal Control Framework for some of its supervised entities Read More »