Former ASX-listed logistics tech company GetSwift has placed its Australian arm in the hands of liquidators, while the publicly listed parent business, GetSwift Technologies, has been suspended from Canada’s NEO Exchange after filing for Chapter 11 bankruptcy protection in the US. The company’s Australian subsidiary, GetSwift Ltd, was placed into liquidation on July 29 with… Read more »
Millennial super fund and fintech startup Spaceship Capital is at the centre of yet another sanction by the company regulator ASIC, which this time has forced the resignation of the company’s chairman, Paul Dortkamp. ASIC has banned Dortkamp, who was also a director of Ellerston Capital, from performing functions as an officer and responsible manager… Read more »
The former CEO of fintech startup Spaceship has been banned from acting in the financial services sector for six years by the corporate regulator, ASIC. Paul Kevin Bennetts, of Elanora Heights on Sydney’s Northern Beaches, was found to have dishonestly obtained his Australian Institute of Company Directors (AICD) qualification following an investigation by the company… Read more »
Corporate regulator, the Australian Securities and Investment Commission (ASIC) is ramping up its oversight of the investment side of the local cryptocurrency market with licences for crypto-asset holders. The regulator has introduced a new “crypto-asset” section in its licensing applications and responsible entities seeking to hold them will need that an authorisation in relation to… Read more »
ASIC has joined 28 international bodies in launching the Global Financial Innovation Network (GFIN), which aims to support financial innovation in the interests of consumers.
The Australian alternative lending space has a new player in its midst, with new offering Lumi launching following the raise of a $31.5 million Series A round.
Small business lending startup Prospa has delayed its ASX listing as it seeks to clarify questions raised by ASIC yesterday around its loan terms.
ASIC stated that initial coin offerings can “involve significant risks for investors that are often not disclosed or well understood”.
Joel MacDonald has stepped down as GetSwift CEO and chairman Bane Hunter has taken on the role as “part of [GetSwift’s] ongoing program to continually develop its governance practices as it grows”.
After years of lobbying from the startup sector, retail – or mum and dad – investors now have access to equity crowdfunding opportunities through the seven intermediaries this week granted licenses by ASIC.
ASIC has announced a deal with the China Securities Regulatory Commission to promote innovation in financial services in their respective markets.
The Federal Government has today revealed a new legislative package that will allow private companies to access equity crowdfunding.
ASIC has announced it will be opening applications for CSF licences, allowing eligible public companies to sell shares through a licensed intermediary.
ASIC has signed an agreement with the United Arab Emirates’ ADGM FSRA, which outlines how both nations will collaborate to support fintech startups.
The agreement will allow the SFC and ASIC to refer fintechs to each other for advice and support via ASIC’s Innovation Hub and the SFC’s Fintech Contact Point.