meta_id 3312923

On July 1, 2026, the Australian Securities and Investments Commission (ASIC) cancelled the Australian financial services (AFS) licence of contracts for difference (CFD) issuer Trive Financial Services Australia Pty Ltd (Trive), effective immediately. ASIC cancelled the licence because Trive ceased carrying on a financial services business in Australia. Under section 915B(3)(a) of the Corporations Act 2001, ASIC may suspend or cancel an AFS licence when a body corporate stops conducting its licensed financial services business. The cancellation has been recorded on ASIC's Professional Registers. Trive held AFS licence number 424122 from July 24, 2012. The company was incorporated on June 25, 2012, and previously operated under the names ILQ Australia Pty Ltd (June 25, 2012 to July 29, 2018) and Fairmarkets Trading Pty Ltd (July 30, 2018 to December 19, 2023). Trive was one of 52 licensed CFD issuers assessed by ASIC during a whole of industry review of the CFD sector. Following ASIC's identification of serious deficiencies in Trive's processes, the company agreed to cease onboarding new clients in April 2025. ASIC's CFD sector review, announced in January 2026, resulted in the return of nearly $40 million to more than 38,000 retail investors and drove substantial compliance improvements across Australia's CFD sector, including enhancements to target market determinations, customer onboarding processes, reporting compliance, and monitoring of customer trading outcomes. Trive may apply to the Administrative Review Tribunal for a review of ASIC's decision to cancel its licence. CFDs are high-risk products that allow investors to speculate on price movements of assets such as shares, currencies, or commodities without owning them.