Australia: ASIC lawsuit against BPS Financial Pty Ltd over alleged non-compliance with licensing requirements and consumer protection regulation
Progress
Current status
in force
03 May 2024 in force
Scope
Implementers
Australia
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
judiciary
Government Body
court
Implementation Level
national
Timeline of events
Issued ruling in ASIC lawsuit against BPS Financial Pty Ltd over alleged non-compliance with licensing requirements and consumer protection regulation
On 3 May 2024, the Australian Federal Court issued a ruling in the ASIC lawsuit against BPS Financial Pty Ltd (BPS) over alleged non-compliance with licensing requirements and consumer protection regulation. The court found that BPS engaged in unlic…
SourceEvent type
public lawsuit
Action type
ruling
Government branch
judiciary
Government body
court