[6] The equity firm later exited the company, selling its stake in 2018 to Tamas Szabo CEO and Fiona Lock.

[23] In October 2014, the Australian Securities and Investments Commission (ASIC) discovered that Pepperstone had been operating in Japan without a license from the Japanese Financial Services Agency.

It was only after the ASIC report that Pepperstone notified its Japanese clients via email about the lack of a license and informed them that they could only withdraw their funds until 31 December 2014.

[25] In 2014, the Herald Sun reported that Pepperstone's head of sales, Joel Murphy, was dismissed after blowing the whistle on a $7 million insider trade scam.

Murphy uncovered a scheme carried out by Lukas Kamay and Chris Hill, who gained 20,000% in profits, and informed his boss as well as the Australian Securities and Investments Commission.

[26][27][28] The story was later covered in the press under the headline "Pepperstone helped the Australian Securities and Investments Commission and Australian Federal Police uncover Australia's largest insider trading case in history," without revealing that the person who initially discovered the fraud had been dismissed without receiving his due compensation.

Murphy later founded a brokerage company and eventually hired one of the convicted fraudsters, Chris Hill, as a risk analyst, giving him a chance to recover from the incident and rebuild his career.