Coin

<ul class="news-points"> 
 <li>ASIC takes legal action against eToro Aus Capital for breaching obligations.</li> 
 <li>eToro’s target market for CFD products was deemed too broad, leading to consumer harm.</li> 
 <li>Nearly 20,000 eToro clients lost money in CFD trading, ASIC claims.</li> 
</ul> 
Australian Securities and Investments Commission (ASIC) has taken a decisive step by initiating legal proceedings in the Federal Court against the local arm of the <a href="https://coinedition.com/twitter-partners-with-etoro-instead-of-binance-regulatory-fear/" rel="noopener noreferrer nofollow">eToro crypto exchange</a>, eToro Aus Capital Limited. 
In a press statement today, ASIC accused eToro of flouting design and distribution obligations and failing to act efficiently, honestly, and fairly concerning its <a href="https://coinedition.com/beginners-guide-to-crypto-trading/" rel="noopener noreferrer nofollow">contract for difference (CFD) product</a>. 
Specifically, the case revolves around eToro’s target market and the screening test it employed to determine if a retail client fits within the CFD product’s ambit. ASIC contends that eToro’s target market was overly broad for a high-risk and volatile trading product, where most clients lose money. 
Moreover, the <a href="https://coinedition.com/australian-regulator-cancels-binances-derivatives-license/" rel="noopener noreferrer nofollow">regulator</a> asserts that the screening test used by eToro was woefully inadequate in assessing a retail client’s compatibility with the target market. 
According to ASIC, this failure to ensure a suitable targ… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/australian-regulator-sues-etoro-exchange-for-breaching-obligations/">Australian Regulator Sues eToro Exchange for Breaching Obligations</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Australian Regulator Sues eToro Exchange for Breaching Obligations

Coin Edition

Ďalšie články zverejnené 3. 8. 2023

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