A new Chief Operating Officer has been appointed by an Australia-based CFDs broker. Mark Tsang, who has a strong background in the online trading industry, has taken on this leadership role. His experience encompasses over ten years working with notable brokers in the sector, including a significant period at Fortune Prime where he was Head of Business Development. He also held key positions at CMC Markets and ACY Securities, which are prominent players in the Australian trading landscape.
Tsang’s extensive career includes senior business development roles that contributed to his in-depth knowledge of both regulated and offshore operations within the brokerage industry. His various roles have equipped him with valuable insights, enabling him to understand and navigate the complexities of the market effectively. He has previously served as Business Development Manager and later moved up to become the Institutional Business Manager at ACY Securities. His earlier experience at CMC Markets involved working as an Institutional Services Relationship Manager, further solidifying his expertise in business development and institutional services.
The brokerage operates under the regulations set by the Australian Securities and Investments Commission (ASIC), ensuring compliance and adherence to stringent financial laws and standards in Australia. This firm also has a sideways venture called DecodeFX, which operates as an offshore brokerage in Vanuatu and primarily serves clients in Eastern markets, including Hong Kong and Southeast Asia.
Tsang’s appointment aligns with the company’s strategic focus aimed at strengthening leadership to enhance its regional operations. With his dual experience in regulated and offshore brokerage domains, he is well-positioned to lead Decode Capital as it aims to serve the Asia-Pacific market more effectively.
In the broader context, the regulatory environment for Australian brokers is growing increasingly stringent. ASIC has begun to heighten scrutiny over firms holding Australian Financial Services (AFS) licenses. Recently, the regulator emphasized the importance of accurate and current entries on the Financial Advisers Register (FAR), which necessitates all brokers to review and update their adviser qualifications diligently.
Concerns have arisen from ASIC’s latest review, which indicates that there are persistent inaccuracies in how AFS licensees report their advisers’ qualifications. The review specifically pointed out issues related to the experienced provider pathway and the reporting of education course completions by advisers. These findings underscore the need for improved compliance ahead of a looming deadline.
Starting January 1, 2026, a new set of qualification standards must be met by all relevant providers to legally offer personal advice to retail clients. The push for adherence to these standards is part of ASIC’s proactive approach to ensure a robust regulatory framework is established before the deadline arrives.
Overall, the combination of Tsang’s leadership and the emphasis on regulatory compliance reflects a critical phase in the evolution of the brokerage industry in Australia. As the market adapts to new standards and expectations, firms are increasingly recognizing the importance of experienced leadership and stringent compliance measures to thrive in a competitive landscape.