Australian regulator sues provider Kraken over margin trading product
THE regulator alleged that Little Trade — THE supplier For Kraken In Australia — did not TO DO A target walk determination Before offer It is margin trade product has Australian customers.
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THE Australian Securities And Investments Commission (ASIC) has begin civil procedure against Little Trade — THE supplier of THE Kraken crypto exchange In Australia — For fail has conform with design And distribution obligations For A of It is trade some products.
According to has A Seven. 21 statement Since ASIC, THE Australian financial regulator alleged that Little Trade failed has TO DO A target walk determination Before offer It is margin trade product has Australian customers.
Design And distribution obligations are A legal requirement For companies that offer financial some products In Australia. THE obligations together Before specific requirements For companies has design financial some products that meet predetermined needs of clients And SO distribute them by path of A target plan.
We are pursue Little Trade, supplier of THE Kraken crypto exchange In Australia, For allegedly fail has conform with THE design And distribution obligations (DDO) For It is margin trade product. From October 2021, clients to have lost about $12.95 million https://t.co/MCRYqah0dP pic.twitter.com/zURQ2xDw7M
— ASIC Media (@asicmedia) September 20, 2023THE regulator claims that Since THE introduction of design And distribution obligations In October. 2021, has less 1160 Australian clients had used Little Professions margin trade product And had incurred A total loss of approximately $8.35 million (12.95 million Australian dollars).
ASIC said that he notified Little Trade of It is failure has conform with THE obligations In June 2022, However, alleging continued has offer THE product without e...
THE regulator alleged that Little Trade — THE supplier For Kraken In Australia — did not TO DO A target walk determination Before offer It is margin trade product has Australian customers.
Breakup
news
Join
We
on
social
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THE Australian Securities And Investments Commission (ASIC) has begin civil procedure against Little Trade — THE supplier of THE Kraken crypto exchange In Australia — For fail has conform with design And distribution obligations For A of It is trade some products.
According to has A Seven. 21 statement Since ASIC, THE Australian financial regulator alleged that Little Trade failed has TO DO A target walk determination Before offer It is margin trade product has Australian customers.
Design And distribution obligations are A legal requirement For companies that offer financial some products In Australia. THE obligations together Before specific requirements For companies has design financial some products that meet predetermined needs of clients And SO distribute them by path of A target plan.
We are pursue Little Trade, supplier of THE Kraken crypto exchange In Australia, For allegedly fail has conform with THE design And distribution obligations (DDO) For It is margin trade product. From October 2021, clients to have lost about $12.95 million https://t.co/MCRYqah0dP pic.twitter.com/zURQ2xDw7M
— ASIC Media (@asicmedia) September 20, 2023THE regulator claims that Since THE introduction of design And distribution obligations In October. 2021, has less 1160 Australian clients had used Little Professions margin trade product And had incurred A total loss of approximately $8.35 million (12.95 million Australian dollars).
ASIC said that he notified Little Trade of It is failure has conform with THE obligations In June 2022, However, alleging continued has offer THE product without e...
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