Channels

Chair

Read

<div class="coingape"> 
 <p>In an official statement on Thursday, August 3, <a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> accused eToro Aus Capital Ltd. of breaching the distribution and design obligations of its contract for difference (CFD) product. Crypto trading platform eToro offers a variety of CFDs, which are leveraged derivatives contracts.</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <p>With CFDs, buyers can make speculative bets on the price movements of different assets, including foreign exchange rates, stock market indices, single equities, commodities, and cryptocurrencies.</p> 
 <p><a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> said that the crypto trading platform performed insufficient screening tests while offering leveraged derivative contracts to retail investors. <a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> stated that the CFDs offered by eToro were “high risk and volatile”. The regulator also stated that the platform’s existing screening test failed to exclude unsuitable customers from its trading product. Furthermore, <a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> said:</p> 
 <blockquote> 
  <p>eToro’s screening test was very difficult to fail and of no real use in excluding customers for who the CFD product was not likely to be appropriate. For example, clients could amend their answers without limitation and clients were prompted if they selected answers which could result in them failing.</p>  
  <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
   <div class="NewTrendin dsdsd m-on"> 
    <h5> 
     <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
     </svg>Recommended Articles </h5> 
    <div class="TrendSList owl-carousel owl-relatedpostar"> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/01/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/01/cf35a15cb82cd1ed6fc87ff4ecbfc001.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/01/9acafad721dcbc6c15e6daccd38017cb.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/01/9acafad721dcbc6c15e6daccd38017cb.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4">Best Crypto Exchange Affiliate Programs In 2023</h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/01/f88de9f91a8c6b7926f52e209e8f697e.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/01/f88de9f91a8c6b7926f52e209e8f697e.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/01/e59946958a3ce000f279efb2e1b9c852.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/01/e59946958a3ce000f279efb2e1b9c852.webp" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
     </div> 
     <div class="BoXtrendsI bg-white"> 
      <div class="ImgFrmI"> 
       <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.thebittimes.com/images/2023/08/02/48cfebc8a0493db9937bed5dd005ee19.webp"> 
       <noscript> 
        <img width="1200" height="627" src="https://cdn.thebittimes.com/images/2023/08/02/48cfebc8a0493db9937bed5dd005ee19.webp" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
       </noscript> 
      </div> 
      <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
     </div> 
    </div> 
   </div> 
  </div> 
 </blockquote> 
 <h3 id="a-rel-noopener-noreferrer-nofollow-title-asic-href-https-thebittimes-com-tag-asic-html-asic-a-seeking-penalties-for-etoro"><a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> Seeking Penalties for eToro</h3>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p>The regulator has also alleged that the target market for eToro’s products was “far too broad” with some users having little understanding of CFD trading risks. “<a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> alleges that between 5 October 2021 and 14 June 2023, almost 20,000 of eToro’s clients lost money trading CFDs,” it added.</p> 
 <p><a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a> Deputy Chair Sarah Court expressed disappointment with eToro’s alleged lack of compliance. She emphasized that the target markets for CFDs should be specific and carefully defined because retail clients face significant risks of losing all their money.</p> 
 <p>CFD issuers must follow the design and distribution rules and cannot adjust their target markets to fit their existing clients. eToro’s wide market reach and global brand awareness made <a rel="noopener noreferrer nofollow" title="ASIC" href="https://thebittimes.com/tag/asic.html">ASIC</a>’s concerns more significant.</p> 
</div>

ASIC Sues eToro for Offering High risk CFD Derivative Products

Daftar Isi

TheBitTimes

Artikel lain yang dipublikasikan pada 3 Agu 2023

WAGMI Games Unveils All-Star Team to Transform Web3 Gaming

Bitcoin’s Volatility Indicator Signals Bull Run

Huobi Anticipates Break-Even in Q3 Following Consecutive Losses

NFTScan Portfolio Product Comprehensive Upgraded!

Amazon, Google Cloud Host 49% of Bitcoin Lightning Nodes

MicroStrategy Signals Bitcoin Buying Spree: BTC Eyes Yearly Highs

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!