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Former company director Trent Bowden has pleaded guilty to dishonestly using his position to obtain more than A$1.5 million from investors who believed their funds would be used for foreign exchange trading. Instead, the money was spent on personal expenses and other non-FX-related costs, and the case now moves to the Perth District Court for sentencing proceedings.
Retail prop trading has dropped from ESMA’s immediate priorities despite earlier scrutiny, according to CySEC Chairman Dr George Theocharides. While European discussions appear stalled, parts of the US market are moving toward formal registration and oversight.
The EU’s Retail Investment Strategy introduces extensive changes to retail investment rules, centring on value-for-money requirements and tighter controls on digital marketing and finfluencers. The reforms reshape product pricing scrutiny, investor categorization, and disclosure formats, with firms facing a compliance deadline at the end of 2028.
The Australian Securities and Investments Commission (ASIC) has extended the deadline for digital asset firms to apply for an Australian Financial Services Licence to 30 September 2026 and expanded the pathways to regulatory compliance. The move gives digital asset service providers more time and flexibility to meet new licensing standards, including for those requiring Australian Market Licences or Clearing and Settlement facility licences.
