ASIC Cancels Trive's Australian Financial Services License After Operations Ceased

According to the Australian Securities and Investments Commission (ASIC), Trive Financial Services Australia Pty Ltd had its Australian Financial Services license cancelled after the company ceased conducting financial services business in the country. The regulator said the company had agreed to stop onboarding new Australian clients in April 2025 following ASIC's identification of serious deficiencies in its processes during an industry-wide CFD market review.

ASIC's examination of 52 licensed CFD issuers between October 2024 and December 2025 uncovered widespread compliance shortcomings in product governance, client onboarding, and regulatory reporting across the sector. The review resulted in nearly AU$40 million (approximately US$26 million) being returned to more than 38,000 retail investors.