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Pepperstone Raids Xero for a New CTO as the Broker Bets Its Future on AI Native Technology
Pepperstone named Xero engineering chief Nigel Fernandes as CTO, effective 1 October 2026, to drive an AI native proprietary technology push.
ASIC
11 articlesForex news and analysis tagged “ASIC” on BestForex.io.
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ASIC Suspends GFA Capital Markets for Five Months After Client Money Was Mixed With Company Funds
ASIC suspended GFA Capital Markets' AFS licence from 23 July to 18 December 2026 after finding client money mixed with company funds and reporting failures.
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ASIC Puts Nine Online Brokers on Notice Over Risky Products, Weak Onboarding and Sign Up Incentives
ASIC reviewed nine online brokers and found weak onboarding, thin disclosure and risky sign-up incentives. Interactive Brokers, Trading 212, Webull and Moomoo are all named.
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ASIC Cancels the Australian Licence of CFD Broker Velos Global Markets After It Stopped Providing Services
ASIC cancelled the Australian financial services licence of CFD broker Velos Global Markets in 2025 after the firm stopped providing services under it from around May 2024. Regulated once is not the same as regulated now.
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Federal Court Orders Record A$300 Million in Penalties Against Union Standard, EuropeFX and TradeFred Over CFD Misconduct
Australia's markets regulator has secured the largest penalties in its history. A$300.2 million has been ordered against collapsed CFD issuer Union Standard International Group and its two former authorised representatives — EuropeFX and TradeFred — for systemic unconscionable conduct that deliberately targeted inexperienced and vulnerable clients.
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FXOpen Loses Its Australian Licence After ASIC Found It Did Not Have the People to Run the Business
ASIC cancelled FXOpen AU's Australian financial services licence after finding the firm lacked adequate human resources to provide or supervise its licensed financial services — a failure of governance rather than misconduct.
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Prospero Markets Loses Its Licence After Money Laundering Charges and a Federal Court Wind Up
ASIC cancelled the Australian financial services licence of Prospero Markets Pty Ltd, a forex and derivatives broker now in liquidation, closing a case that began with money laundering charges against its former officers and ended in the Federal Court.
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ASIC Cancels Trive Licence After Finding Serious Deficiencies in Its CFD Business
Australia's corporate regulator has cancelled the financial services licence of Trive, a contracts for difference issuer that stopped taking on new clients last year after ASIC found serious deficiencies in how it ran its business.
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Forex CT Hit With $20 Million Penalty for Running Its Trading Floor Like a Casino at Clients' Expense
Forex CT, an Australian retail forex and CFD broker, was ordered by the Federal Court to pay a $20 million penalty for a system of unconscionable conduct that pressured vulnerable clients into depositing money many could not afford to lose. Its sole director was fined $400,000 and banned for eight years.
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IC Markets Faces A$948 Million Class Action in Federal Court
A class action seeking A$948 million is advancing through Australia's Federal Court against IC Markets and its billionaire founder Andrew Budzinski. The opt-out window has closed, locking thousands of retail CFD traders into consolidated proceedings as the case moves toward trial.
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$10 Million Fine: How Binance Let Retail Traders Take a Compliance Quiz Until They Passed
Australia's Federal Court ordered Binance Australia Derivatives to pay $10 million after it misclassified 524 retail clients as wholesale investors — letting them retake a multiple-choice quiz until they achieved a passing score.