The Australian Securities and Investments Commission (ASIC) has filed a court action to wind up 95 financial services firms, including several CFDs brokers like Aximtrade and Vortex Trading, which are no longer operating under Australian Financial Services licenses. ASIC expressed concerns over the management and conduct of these firms, noting associations with scam activities. A case management hearing is set for December 5, 2024, with a deadline for evidence submissions by November 25, 2024. ASIC has intensified its efforts against scams, blocking over 7,300 fraudulent websites since mid-2023 and taking action against non-compliant licensed providers.

The Australian Securities and Investments Commission (ASIC) has filed a court action to wind up 95 financial services firms, including several CFDs brokers like Aximtrade and Vortex Trading, which are no longer operating under Australian Financial Services licenses. ASIC expressed concerns over the management and conduct of these firms, noting associations with scam activities. A case management hearing is set for December 5, 2024, with a deadline for evidence submissions by November 25, 2024. ASIC has intensified its efforts against scams, blocking over 7,300 fraudulent websites since mid-2023 and taking action against non-compliant licensed providers.