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ASIC oversees more than $17.4 million in compensation to retail investors by OTC derivative issuers
ASIC has overseen more than $17.4 million in combined compensation payments to over 2,000 retail clients affected by breaches of financial services laws by eight retail OTC derivative issuers. This compensation figure, being paid or agreed to be paid since March 2021, comprises: • a combined $4.3 million paid or agreed to be paid to over 1,500 retail clients of seven different issuers of contracts for difference (CFDs) since March 2021, due to issuing CFDs that exceeded the leverage ratio limits permitted by the ASIC Corporations (Product Intervention Order – Contracts for Difference) Instrument 2020/986 (PIO); ... (full story)