 He added that the new licence conditions were an important part of restoring investor confidence in the broader broking area and providing reassurance that compliance procedures are in place to ensure risk management practices are of the standard required under the law.This came after Russell Johnson, Director of Sonray Capital Markets, which acted as a white-label to Saxo Bank, was sentenced to six and a half years in jail after the firm owed A$76 million.Stock broker BBY Limited appointed liquidators in June 2015 due to insufficient funds to meet its obligations.