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ASX

Know Your Supplier - Behind the Painted Smile of FinTech and Regtech.

iSignthis is not an Apple device. Nor one of those iMassage services with mobile phone numbers spray painted on walls. It's an interlocking set of companies with iSignthis Limited listed on the Australian Stock Exchange (ASX) and the Frankfurt Stock Exchange. ASX and the Australian Securities and Investment Commission says it's been naughty. So what? So its customers are financial institutions buying in outsourced regulatory risk and compliance services in relation to e.g. financial crime.

Fintech, Regtech and the risks they present to your business.

BIScom Subsection: 
Financial Sector Technology (FinTech)

Conviction for manipulating data for company applying to become listed.

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Mark Damion Kawecki, of Frankston Victoria, Australia has appeared before the Melbourne Magistrates' Court and pleaded guilty in the first case of its kind in Australia. He fiddled the figures to help a company get on the board.

BIScom Subsection: 
Retail Securities

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ASIC, ASX, EY, TTC and TCM: the alphabet soup of suspicious market activity in a company that delighted in the trademark "Fuqiao"

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The Australian Securities and Investment Commission has applied to the Federal Court to wind up Traditional Therapy Clinics Limited (a Chinese Traditional Medicine company) after it was delisted by the Australian Stock Exchange and has asked the court that two members of Ernst and Young be appointed as liquidators.

So, now you know what all the letters mean, let's get on with the story which is, in part, about Red Stox and the continuing risks some of them pose for shareholders, regulators and sponsors to say nothing of those usually small businesses which put their faith in them ....

CoNet Section: 
Insolvency

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ASIC bans Authorised Representative for five years

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Sydney-based authorised representative Eli Ekman, of Dover Heights, NSW, has been prohibited from providing any financial services in any capacity for five years, under the terms of a court-enforceable undertaking (EU), said Australian financial services regulator ASIC in a statement this week. His offence is unusual.

BIScom Subsection: 
Enforcement

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