Business
ASIC admits ongoing issues in CFD market as it comes under cultural pressure – Sydney Morning Herald
The Australian Securities and Investments Commission was raked over the coals over its expenses scandal and its poor oversight of the financial derivatives market….
Mr Georganas asked Ms Armour about ASIC’s decision to lift the suspension of the Australian financial services licences for two groups, Berndale Capital Securities and AGM Markets, in 2015 and 2016 following investigations. Both groups went on to cost consumers just under $40 million. Berndale is not one of the firms alleged to have been run by fraudsters, but liquidators examinations have heard its customers lost millions of dollars.
Ms Armour said ASIC had taken action against these groups when…
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