Why ASIC’s censuring of Westpac is important to the FX industry – Insight from within

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As major Australian bank Westpac is censured by ASIC, Finance Feeds examine why accuracy when approaching the core trade reporting process required by regulators these days is vital from an FX industry point of view.

To gain further clarity on this matter, FinanceFeeds spoke to our Director, Sophie Gerber.

Sophie explained: “Today’s release by ASIC of news about the first trade reporting fine to be issued is important. The last phase of the regulation came in on 5 December 2015, and since then we’ve since indications that ASIC is looking very closely at the information being sent to them…”

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