This might ruffle a few feathers. Thought you all might be interested in this article and how this broker(GTL Tradeup) in Aus used ASIC as a front...
http://forexmagnates.com/gtl-tradeup-an-australian-fx-broker-goes-belly-up-down-under/
http://forexmagnates.com/gtl-tradeup-an-australian-fx-broker-goes-belly-up-down-under/