Exclusive: Australian FX Brokers Raise Alarm about New Regulations
Posted: Wed Feb 21, 2018 6:38 am
Earlier this month, the Australian Parliament approved the establishment of the Australian Financial Complaints Authority (AFCA). The new body is to be regulated by the Australian Securities Investments Commission (ASIC). The event signals an abrupt change in the way authorities are handling consumer complaints about financial services providers (FSPs).
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According to the document, the AFCA will begin handling client complaints against FSPs from the beginning of November. While the final details are still being worked out by Australian authorities, brokers from Australia are expressing some worries ... (read more)