Federal Court orders record $300 million penalties in ASIC’s case over ‘egregious’ Union Standard and CFD operator misconduct

26-117MR

civil penalty11 June 2026Penalty $29.40M

Respondent

BrightAU Capital Pty Ltd

Facts

The Federal Court has ordered record penalties totalling $300.2 million against collapsed contracts for difference (CFD) issuer Union Standard International Group Pty Ltd (Union Standard) and its former authorised representatives for systemic unconscionable conduct and other contraventions of the law between 2018 and 2020.

Outcome

ASIC civil penalty of $29,400,000 — BrightAU Capital Pty Ltd (trading as TradeFred), a former authorised representative of Union Standard, for systemic unconscionable conduct and other contraventions in selling CFDs (2026-06-11). Union Standard ($156.7 million) and EuropeFX ($114.1 million) were separately penalised. The orders were temporarily stayed until 13 July 2026. See the ASIC source for the full terms.

What does this action mean for your compliance program?Hand this question to the Rules Mate AI advisor — it is already written for you. Cited answers from the live obligation, regulator and enforcement corpus.Ask the AI advisor

Read the source

https://www.asic.gov.au/about-asic/news-centre/find-a-media-release/2026-releases/26-117mr-federal-court-orders-record-300-million-penalties-in-asic-s-case-over-egregious-union-standard-and-cfd-operator-misconduct

Rules Mate links to the regulator's own publication. We do not republish full decision text. Always verify the latest status against the source before acting.