Skip to Primary Navigation

ASIC roundup: Illegal phoenix activity, and bank fined A$15m for misleading customers

Montage of the Australian arms Emu and Kangaroo emblem
GRIP Montage: ASIC/Getty Images

The Australian Securities & Investments Commission’s latest actions and news, September 25 – 29, 2023.

Penalty for crypto product representations – September 27, 2023

The fintech company Bobbob Pty Ltd has paid A$53,280 ($33,666) to comply with infringement notices regarding promoting a crypto-asset linked investment product. According to ASIC, Bobbob made representations that could have mislead customers by saying that the crypto-asset linked investment product:

  • was approved or

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience