Australian Securities and Investments Commission v eToro AUS Capital Limited

The matter before the court was an application by the Australian Securities and Investments Commission (ASIC) against eToro AUS Capital Limited (eToro) for final suppression and non-publication orders in relation to certain commercially sensitive information. The application followed interim orders that had already been made for suppression and non-publication. The dispute between the parties was centered around the nature and characteristics of eToro's CFD products, with the defendant arguing that disclosure of certain information could cause commercial harm and prejudice the proper administration of justice. The legal issues before the court were whether the suppression and non-publication orders were necessary to prevent prejudice to the proper administration of justice, and whether the duration of the orders was reasonably necessary.

The court found that the information in question contained detailed customer data and trading information that was highly sensitive and not available in the public domain. The court was satisfied that the disclosure of this information could cause significant commercial harm to eToro and its parent company, the eToro Group, and could also undermine public confidence in the administration of justice. The court also found that the duration of the orders, until 20 February 2028, was reasonably necessary to protect the sensitive information and allow for the proper conduct of the proceedings. The court made final suppression and non-publication orders, restricting the disclosure of the confidential information to specific parties and requiring that any documents containing the information be marked and redacted appropriately. The court also granted eToro the liberty to apply to extend the duration of the orders if necessary.