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 $156.70M

Respondent

Union Standard International Group 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 $156,700,000 — Union Standard International Group Pty Ltd (2026-06-11), for systemic unconscionable conduct and other contraventions, including liability for its authorised representatives' conduct. Its former authorised representatives were separately ordered to pay $114.1 million (Maxi EFX Global AU Pty Ltd, EuropeFX) and $29.4 million (BrightAU Capital Pty Ltd, TradeFred); $300.2 million in total. See the ASIC source for the full terms.

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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

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