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A loophole allowed FTX to secure its Aussie license without full checks: ASIC’s Longo.
Joseph Longo, the chairman of the Australian Securities and Investments Commission (ASIC) is calling for a regulatory loophole to be closed that allowed FTX to acquire an Australian Financial Services License (AFSL) in the country without the full suite of checks.
According to a Dec. 5 report from the Australian Financial Review, Longo made the comments while speaking at a joint parliament committee on corporations and financial services on Monday local time.