I've had some chats with two Interactive Brokers' customer support reps about why I am unable to see the "Fixed income" category in the trading configurations settings. According to both of them, Australians are not allowed to trade in bonds due to "regulatory issues" but they were not able to provide a link to more information or any further help other than that the guys at the trading desk say so.

Can anyone throw some light on this?
Is this just something to do with IB not having the right license from ASIC?
Are there other brokers that allow trading of foreign bonds?