ASIC has released rules implementing Australia's mandatory central clearing regime for over-the-counter (OTC) derivatives of financial institutions – the ASIC Derivative Transaction Rules (Clearing) 2015 (derivative transaction rules (clearing)) and explanatory statement
http://asic.gov.au/about-asic/media...ring-regime-in-australia-for-otc-derivatives/
All CFD providers must soon report to ASIC, expects CFDs and margin FX trades to be reported and will use their enforcement powers over those that choose not to.
http://www.financemagnates.com/fore...ding-cfds-and-forex-from-otc-trade-reporting/
Further, recent enforcement actions under UK FCA and CySEC ‘rules’ have been damaging to certain retail CFD firms, if not catastrophic. Both of these events placed the retail CFD industry under the regulatory spotlight.Now, new EMIR and MiFIR regulation around increasing market transparency and best execution reporting.
http://www.financemagnates.com/fore...in-transaction-reporting-on-retail-cfd-firms/
The U.K. financial regulator has issued a letter to the CEOs of regulated CFDs providers pointing out some concerns related to client on boarding and risk disclosures to clients. The Financial Conduct Authority (FCA) has been reviewing a number of procedures which CFDs brokers are using to onboard clients. The UK’s top financial watchdog has publicly warned spread betting firms that they appear to be “failing to do enough to prevent financial crime.”
http://www.*.com.au/fca-starts-review-of-cfd-industry-2016-2?r=UK&IR=T
http://www.fca.org.uk/static/documents/dear-ceo-letter-cfd.pdf
I guess that the nameless CFD providers will have to change there game. As there are big fines if they get caught doing questionable things to there clients. I still don't understand how ASIC and everyone else also knows what these nameless companies do to there clients.But they are still not stopped.
