The Securities and Exchange Commission (SEC) has informed that it has charged Howard M. Appel with manipulating the stocks of three microcap companies while on supervised release following his criminal conviction for a prior securities fraud. According to the SEC’s complaint, Appel orchestrated multiple schemes to manipulate the market for trading in shares of Virtual…
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The Eastern Magistrates’ Court has informed the public that it has found Mr Wong Hung not guilty of illegal short selling. The Hong Kong Securities and Futures Commission (SFC) alleged that, on 20 occasions between 6 and 20 January 2012, Wong sold shares of five stocks through his securities account at Hung Sing Securities Limited,…
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The Securities and Exchange Commission (SEC) has just announced that New York entrepreneur William Z. (Billy) McFarland, two companies he founded, a former senior executive, and a former contractor agreed to settle charges arising out of an extensive, multi-year offering fraud that raised at least $27.4 million from over 100 investors. The SEC’s complaint alleges…
Read moreThe Securities and Exchange Commission (SEC) announced that it has charged Mizuho Securities USA LLC for its failure to safeguard information pertaining to stock buybacks by its issuer customers. Mizuho failed to maintain and enforce policies and procedures aimed at preventing the misuse of material nonpublic information, including maintaining effective information barriers between different trading…
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The European Securities and Markets Authority (ESMA) just informed the public that it has today fined Danske Bank, Nordea Bank, SEB, Svenska Handelsbanken and Swedbank €495,000 each and issued five public notices for negligently breaching the Credit Rating Agencies Regulation (CRAR). ESMA found that the five banks infringed the CRAR by issuing credit ratings without…
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Australian regulator ASIC announced that former executive of Healthe Care Pty Limited Mr Gregory Campbell, of Bundall, Queensland, has been charged with three counts of insider trading. The filing hearing for Mr Campbell’s charges was listed at the Melbourne Magistrates’ Court on 20 July 2018. On 20 October 2016, Pulse Health Limited publicly announced that…
Read moreThe Securities and Exchange Commission (SEC) announced that it has charged a Connecticut-based investment advisory firm and its chief executive officer with putting $19 million of investor money, including elderly investors’ retirement savings and pension plans, in risky investments and secretly pocketing hefty commissions from those investments. The SEC’s complaint alleges that Temenos Advisory Inc.…
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The Securities and Exchange Commission (SEC) has informed the public that it has charged the former CEO of Energy XXI Ltd. with hiding more than $10 million in personal loans that he obtained from company vendors and a candidate for Energy XXI’s board. At the time of the alleged misconduct, Energy XXI was NASDAQ-listed and…
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The Securities and Exchange Commission (SEC) has informed that it has charged a stock promoter and four others involved in an alleged series of microcap fraud schemes that were foiled by FBI undercover work and an SEC trading suspension. According to the SEC’s complaint filed in federal court in southern California on July 6, stock…
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Garry James Patterson has been sentenced to 200 hours’ community work and 3 months’ community detention at the Christchurch District Court after pleading guilty to two charges brought by the Financial Markets Authority (FMA). Mr Patterson, 63, who is originally from Queenstown but has also been based in Christchurch, held out he was in the…
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