ASIC Suspends Licence of CFD Provider GFA Capital Markets | LeapRate
Australia’s corporate watchdog, ASIC, has suspended the financial services licence of CFD issuer GFA Capital Markets Ltd (GFA) for five months, after finding a string of compliance failures.
The suspension runs from 23 July 2026 to 18 December 2026. It follows an industry-wide review of 52 licensed CFD issuers, which first flagged problems at the firm.
After holding an administrative hearing, ASIC found that GFA had failed to properly separate client money from company funds, and had even mixed the two together. The regulator also said GFA broke reporting rules under the ASIC Derivative Transaction Rules, and did not have strong enough systems, staff, or technology to meet its legal duties. ASIC said GFA was likely to breach its general obligations as a licence holder.
GFA can still keep some parts of its business running during the suspension. It must stay a member of the Australian Financial Complaints Authority, keep its professional indemnity insurance, and follow any written orders from ASIC.
Before the suspension ends, GFA will need to show ASIC that it has fixed its compliance and client money problems. If ASIC isn’t convinced, it could extend the suspension or cancel the licence entirely. GFA can also ask the Administrative Review Tribunal to review the decision.
CFDs let traders bet on price moves in shares, currencies, or commodities without actually owning them. ASIC has made protecting consumers from risky products like CFDs a top priority, and has already helped return nearly $40 million to more than 38,000 retail investors through its broader sector review.
