The Australian version of the now-notorious social media forum at the centre of the GameStop trading frenzy is cracking down on local attempts to organise a similar “market play” and has threatened to ban rule-breakers in an effort to avoid unwanted scrutiny from the market regulator.

The global financial services industry is reeling from a seemingly co-ordinated attack this week by DIY investors organising in the forum r/wallstreetbets on social media platform Reddit.