Robert Strong

ASIC has succeeded in overturning a decision that found that Qoin issuer BPS Financial came within the authorised representative exemption with respect to agreements with Australian financial services licence holder PNI.

The corporate regulator has asked the Full Court to stamp out avenues for corporate mischief, as it challenges a finding about the authorised representative exemption to the licence requirement of financial services providers.

ASIC has appealed a decision in its mostly successful case against the issuer of the Qoin crypto coin, challenging an “important” finding on authorised representatives of AFSL holders.