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ASIC secures record $211m fines against CFD issuer and representatives

Screenboards at the Australian stock exchange.
The misconduct took place over two years between 2018 and 2020. Photo: Frogman/Getty Images

Hameed Shuja

2 min read
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The regulator said the penalties were the highest ever secured in connection with an ASIC matter, and that the outcome would send a strong message of deterrence.

Record penalties of more than A$300m ($211m) have been issued against a collapsed CFD issuer and its former authorized representatives by the Federal Court in Australia.

Union Standard International Group Pty Ltd (the issuer) was fined alongside its former authorized representatives Maxi EFX Global AU Pty Ltd (trading as

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