Bell Potter Securities Limited has paid a penalty of $358,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC informed earlier today. The ASIC Market Integrity Rules (ASX Market) 2010: prohibit a market participant from making bids on its own behalf with the intention, or having the effect,…
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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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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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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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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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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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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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The Monetary Authority of Singapore (MAS) announced that it has successfully obtained higher civil penalties against Mr Wang Boon Heng (Wang) and Ms Foo Jee Chin (Foo) for contravening section 201(b) of the Securities and Futures Act (SFA), which prohibits any conduct that operates as a fraud or deception in connection with the subscription, purchase…
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A petroleum engineer who worked at Texas-based energy company Apache Corporation has agreed to settle the U.S. Securities and Exchange Commission (SEC) charges that he conducted insider trading ahead of a market-moving announcement about the company’s discovery of a significant new oil source. The SEC alleges that Christopher J. Lollar traded on nonpublic information while…
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Investment advisory firm Millennium Management LLC has agreed to pay more than $630,000 to settle charges that it shorted U.S. stocks in companies planning follow-on offerings and then illegally bought shares in the follow-on offerings, the U.S. Securities and Exchange Commission (SEC) informed earlier. An SEC investigation found that Millennium violated an anti-manipulation provision of…
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