Olive Financial Markets

The Australian Securities and Investments Commission (ASIC) has canceled the Australian financial services (AFS) license of Olive Financial Markets Pty Ltd due to concerns that Olive was not complying with its obligations. The firm has appealed the decision with the Administrative Appeals Tribunal. ASIC also banned the former director of Olive, Scott John Morrison, from providing financial services for seven years. The ban was effective from April 3, 2020, as ASIC found that Morrison failed to act in the best interests of Olive’s clients and was involved in certain contraventions by Olive. The decision by ASIC highlights the regulatory actions taken against Olive Financial Markets and its former director.

The Australian Securities and Investments Commission (ASIC) has canceled the Australian financial services (AFS) license of Olive Financial Markets Pty Ltd due to concerns that Olive was not complying with its obligations. The firm has appealed the decision with the Administrative Appeals Tribunal. ASIC also banned the former director of Olive, Scott John Morrison, from providing financial services for seven years. The ban was effective from April 3, 2020, as ASIC found that Morrison failed to act in the best interests of Olive’s clients and was involved in certain contraventions by Olive. The decision by ASIC highlights the regulatory actions taken against Olive Financial Markets and its former director.