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Aviron raises $4 5M to Drive Gamified Rowing Experiences via their Best-in-Class Rowing Machine
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Case study: How Aviron navigated a COVID-induced home gym boom
A push to a direct-to-consumer model helped interactive smart rower company flourish 5 minutes read When COVID-19 shut down gyms across the country, equipment maker Aviron needed to pivot to the home fitness market. It needed a logistics partner that could handle the difficult last-mile. It found that in GlobalTranz. (Photo: Aviron)
Heading into 2020, the U.S. fitness club industry was on a roll, with projections that it would reach $39 billion in the U.S., growing more than 2.6% over 2019. Then COVID-19 hit, shutting down the majority of the fitness industry. That included gyms but also fitness facilities in hotels and other businesses.
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ASIC bans Forex Capital Trading director for ten years and former employees for three to six years from providing financial services
ASIC has banned the sole director and four former employees of retail over-the-counter (OTC) derivative issuer, Forex Capital Trading Pty Ltd (Forex CT), from providing financial services for periods ranging from three to ten years.
Forex CT employed account managers who encouraged clients to trade in high-risk contracts-for-difference (CFDs) and margin foreign exchange contracts (FX Contracts) products issued by Forex CT.
Forex CT chief executive officer, responsible manager and sole director, Shlomo Yoshai, has been banned for ten years. ASIC found Mr Yoshai’s lack of understanding or regard for compliance was so serious it justified the making of the banning period for such a significant period, particularly given he was someone who oversaw the operations of Forex CT.
ASIC found Yoshai was involved in Forex CT’s trading floor culture, an environment that had been likened by former account managers to ‘The Wolf of Wall Street’, where a bell or a gong was rung when clients deposited funds of certain amounts into their trading accounts and account managers could participate in incentive ‘games’ such as ‘wheel of fortune’, roulette tables and dice games to win cash if certain client deposit targets were met.
Yoshai put pressure on account managers to implement high pressure sales tactics when engaging with clients, offer incentives to clients to encourage deposits, recommend trading strategies that would increase a client’s exposure to the market, pressure clients to deposit funds into their trading accounts, and pressure clients to delay or cancel withdrawal requests.
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