Category: Charges

Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
November 22, 2017 BY Valentina Kirilova

Long Island town and former top official charged with defrauding municipal investors

The Securities and Exchange Commission (SEC) informed that it has charged Oyster Bay, New York, and its former top elected official with defrauding investors in the town’s municipal securities offerings by hiding the existence and potential financial impact of side deals with a businessman who owned and operated restaurants and concession stands at several town…

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ASIC office
November 16, 2017 BY Valentina Kirilova

ASIC charges Caloundra man for insider trading

ASIC informed that Mr Jin Xi Li, 54, of Caloundra, Queensland, appeared in the Maroochydore Magistrates Court today charged with 88 insider trading related offences. Mr Li was charged under section 1043A of the Corporations Act following an ASIC investigation into trading in Contracts for Difference (CFD) and the ordinary shares of PanAust Limited (PanAust…

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November 14, 2017 BY Valentina Kirilova

CFTC charges Statoil ASA for attempt to manipulate the Argus Far East Index

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Statoil ASA (NYSE:STO), an international energy company headquartered in Stavanger, Norway. The CFTC Order finds that from as early as October 2011 through November 2011, Statoil attempted to manipulate the Argus Far East Index (FEI) in order to benefit Statoil’s…

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ICO fraud
November 10, 2017 BY Valentina Kirilova

FINRA bars broker for defrauding elderly, blind customer

The Financial Industry Regulatory Authority (FINRA) announced that a FINRA extended hearing panel barred broker Hank Mark Werner of Northport, New York, for fraudulently churning and excessively trading the accounts of his customer –a blind, elderly widow –and for making unsuitable recommendations. The hearing panel also ordered Werner to pay more than $155,000 in restitution…

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November 08, 2017 BY Valentina Kirilova

ASIC bans former BBY financial adviser for ten years

ASIC just informed that it has banned Sergio Nicolo Belardo, a Perth-based former financial adviser with BBY Ltd (BBY), from providing financial services for ten years. Mr Belardo was an Authorised Representative of BBY from September 2013 to May 2015 and in that role provided advice and dealing services to BBY retail clients in relation…

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November 08, 2017 BY Valentina Kirilova

Five individuals charged in foreign bribery scheme involving Rolls-Royce Plc

US Department of Justice informed that charges were unsealed today against two former executives of Rolls-Royce plc (LON:RR) and its subsidiaries (Rolls-Royce), a former Rolls-Royce employee, a former intermediary for Rolls-Royce in Kazakhstan and an executive of an international engineering consulting firm – all for their alleged participation in a scheme to pay bribes to…

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SFC fines
November 07, 2017 BY Valentina Kirilova

CFTC fines Cargill Inc. $10 million for providing inaccurate mid-market marks on swaps

The Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against Cargill, Inc. (Cargill), of Minnesota, for providing mid-market marks (marks) that concealed from counterparties and its swap data repository (SDR) its full mark-up on certain swaps, in violation of the Commodity Exchange Act (CEA) and Commission Regulations. Specifically, the…

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asic charges
November 06, 2017 BY Valentina Kirilova

Former stockbroker sentenced for dishonest use of clients funds

Mr Lewis Anthony Wright Fellowes, a former strockbroker from Perth, Western Australia, has been sentenced in the Brisbane District Court on dishonesty charges brought by ASIC, the Australian regulator informed earlier today. He had earlier pleaded guilty to one charge of dishonestly using his position with the intention of directly gaining an advantage for someone…

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