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ASIC has banned a Gold Coast director of a business that leased an automated trading robot, designed to work on foreign exchange (FX) trading platforms from providing any financial services for four years. ASIC banned Gregory William Finerty, the sole director of Bradford AI, after finding he carried on a financial services business without an …

Gold Coast director banned from providing financial services for four years Read More »

Home finance companies General Commercial Group Pty Ltd (formerly known as Urban Commercial Group) and Eden Capital (Australia) Pty Ltd (formerly known as Southside Lending) have each been penalised $50,000 by the Federal Court for failing to cooperate with the Australian Financial Complaints Authority (AFCA). General Commercial director Dale Brendan Heremaia and his son, Eden …

Home finance companies and directors to pay $150,000 for failing to cooperate with AFCA Read More »

The European Securities and Markets Authority, the EU’s financial markets regulator and supervisor, has today published its preliminary data report following the introduction of the market correction mechanism (MCM) in the EU Regulation. The report describes the structure and main participants in the EU natural gas derivative market. It focuses on market indicators aimed at …

ESMA analyses preliminary effects of market correction mechanism on EU natural gas derivative market Read More »

Australian wood-fibre processor and exporter Midway Limited has paid a $33,000 infringement notice over ASIC concerns that it failed to comply with its continuous disclosure obligations. ASIC issued the infringement notice following an investigation into announcements made by Midway on the Australian Securities Exchange (ASX). ASIC alleges that on 11 February 2022, Midway became aware …

Midway Limited pays $33,000 infringement notice penalty for alleged continuous disclosure breach Read More »

ASIC Commissioner Sean Hughes will end his term as Commissioner on 3 February 2023, after accepting a role in the commercial sector. ASIC Chair Joe Longo said ‘We are grateful for the contribution Sean has made to ASIC in his role as Commissioner and wish him well in the next stage of his career.’ Mr …

Commissioner Sean Hughes to depart ASIC Read More »