Category: News

The Financial Conduct Authority (FCA) is looking for expressions of interest from market participants to join our advisory committee. The committee was established in 2022 and we are renewing the membership in line with our terms of reference. The purpose of the committee is to support our work in wholesale secondary markets for equities, derivatives,...

Benjamin Thomas Molloy of Point Cook, Victoria appeared at the Melbourne Magistrates Court charged with one count of breaching his duties as a director pursuant to section 184(2)(a) of the Corporations Act 2001 (Cth) and five counts of making false statements to ASIC pursuant to section 1308(2) of the Corporations Act 2001 (Cth). Following an...

ASIC has cancelled the Australian Financial Services (AFS) licence of JB Markets Pty Ltd (JB Markets) effective from 12 April 2024, for failing to: comply with the financial requirements of its AFS licence; and have adequate resources to provide the financial services covered by the licence and to carry out supervisory arrangements. Under the Corporations...

ASIC has appealed the Federal Court’s decision to dismiss ASIC’s proceedings against Auto & General Insurance Company Limited (Auto & General) regarding an alleged unfair contract term under the ASIC Act. ASIC alleged that a term in Auto & General house and contents insurance policies: required policyholders to notify Auto & General if ‘anything’ changes...

The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) launched today a public consultation on the draft Regulatory Technical Standards (RTS) on the conduct of oversight activities in relation to the joint examination teams under the Digital Operational Resilience Act (DORA). The primary goal of the draft RTS is to lay out the criteria...

ASIC’s latest insolvency data for the nine-month period from 1 July 2023 to 31 March 2024, released today, shows an increase in the number of Australian companies failing. During the period, 7,742 companies entered external administration, a 36.2% increase on the previous corresponding nine-month period ending 31 March 2023. Out of these external administrations, construction...

Check against delivery Before I begin, I would like to acknowledge the traditional owners and custodians of the land on which we meet today, the Wurundjeri people of the Kulin nation, and pay my respects to their Elders past, present and future. I extend that respect to Aboriginal and Torres Strait Islander people here today....

ASIC is conducting an investigation into blockchain mining companies NGS Crypto Pty Ltd, NGS Digital Pty Ltd and NGS Group Limited (a company domiciled in Hong Kong) (together, the NGS Companies) and their officers, employees, agents, representatives, or associated entities. ASIC’s investigation arose from concerns including that: the NGS Companies received funds from Australian investors...

The Australian Securities and Investments Commission today confirmed a number of changes to its senior executive leadership team.  Chief Executive Officer   ASIC Chair Joe Longo has accepted a request from the Commonwealth Director of Public Prosecutions for ASIC CEO Warren Day to join the CDPP on secondment as the Director’s Executive Officer, effective 1 June...

ASIC has commenced civil proceedings against blockchain mining companies NGS Crypto Pty Ltd, NGS Digital Pty Ltd and NGS Group Ltd (NGS Companies) and the sole directors of those respective companies, Brett Mendham, Ryan Brown and Mark Ten Caten. On 10 April 2024, the Federal Court made orders appointing Anthony Connelly, Kathy Sozou, and Jamie...