The Australian Securities and Exchange Commission today announced imposing a four-year ban on Gregory Finerty, the sole director of Gold Coast company Bradford AI, from offering financial services.
According to the regulator’s findings, Finerty carried on a financial services business without an Australian financial services (AFS) licence and engaged in misleading and deceptive conduct. As a result, he was banned from controlling an entity that carries on a financial services business and performing any function involved in that area.
ASIC further detailed that Bradford AI leased an algorithmic trading program called Robot 1. From January 2020 to at least the end of December 2021 Finerty arranged his clients to trade foreign currency CFDs while the company did not hold a license for that. During that period, Bradford AI used the services of another Australia-based CFDs broker to provide the services to its clients.
