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Home Sources leaprate.com

Australian Federal Court slaps One Tech Media with $1.8 million fine in binary options case

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Australian Federal Court slaps One Tech Media with $1.8 million fine in binary options case

Australian company Allianz Metro Pty Ltd, together with Eustace Senese and Yoav Ida provided One Tech Media with services without AFS licence and also breached the Corporations Act. Senese and Ida also failed to issue the requisite PDS for each binary option trade conducted.

The court found that One Tech Media’s conduct was “systemic and deliberate” and caused substantial looses to clients and Senese and Ida contributed to that.

The judgment imposed a $1.8 million penalty on One Tech Media and permanently restrained the company from carrying on a financial services business. Allianz Metro was also banned from carrying on a financial services business. The court banned Senese  as well and permanently disqualified him from managing corporations. Ida was banned for 15 years.

The post Australian Federal Court slaps One Tech Media with $1.8 million fine in binary options case appeared first on LeapRate.

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Australian Dollar closes above 77 US cents

Currency markets unmoved despite rising equities and volatility in bond yields

AUD surges on improving demand for risk

AUD buoyed by improved demand for risk

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