USA: SEC Enforcement Actions Today
Posted by nileshkokane on 30 August, 2010
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Archive for August, 2010
India: SEBI passes Adjudication order against Kishor Thumar
Posted by nileshkokane on 30 August, 2010
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On August 20, 2010 the Securities and Exchange Board of India (SEBI), the capital market regulator passed an Adjudication order against Kishor Thumar. It was alleged that the Noticee, has violated the provisions of regulations 3 (a), 4(1), 4(2) (a) and (g) of the SEBI (PFUTP) and hence liable for penalty of Rs. 2, 00,000.
Hong Kong: Chung Nam Securities and responsible officers reprimanded and fined $1.3 million for non-compliance in handling PCCW trades
Posted by nileshkokane on 30 August, 2010
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This item was filled under [ Asia, Financial Regulators ]
As published in the Securities and Futures Commission (SFC) on August 26, 2010 that it has issued a reprimand to Chung Nam Securities Limited and its two responsible officers Mr Cheng Wai Chung and Mr Ng Kwai Cho for non-compliance with the SFC’s Code of Conduct and Internal Control Guidelines in handling client orders for the shares of Pacific Century CyberWork Limited (PCCW). The SFC has also fined Chung Nam $800,000 and Cheng and Ng $250,000 each.
USA: Stephen D. Chanslor Suspended
Posted by nileshkokane on 30 August, 2010
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This item was filled under [ Financial Regulators, USA ]
On Aug. 26, 2010, the Securities and Exchange Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against Stephen D. Chanslor (CPA). The Court also imposed an officer-and-director bar and a civil penalty of $25,000 against Chanslor. Based on the above, the Order suspended Chanslor from appearing or practicing before the Commission as an accountant, with the right to reapply after three years.
USA: Donna B. Murdoch Barred
Posted by nileshkokane on 30 August, 2010
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On Aug. 26, 2010, the Securities and Exchange Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions (Order) against Donna B. Murdoch. Based on the foregoing findings, the Order barred Murdoch from association with any broker or dealer.
USA: James E. Gansman Suspended
Posted by nileshkokane on 30 August, 2010
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This item was filled under [ Financial Regulators, USA ]
On Aug. 26, 2010, the Securities and Exchange Commission issued an Order Instituting Administrative Proceedings Pursuant to Rule 102(e) of the Commission’s Rules of Practice, Making Findings, and Imposing Remedial Sanctions (Order) against James E. Gansman. Based on that finding, the Order suspended Gansman from appearing or practicing before the Commission as an attorney.
Hong Kong: Disciplinary action against Mascotte Holdings Limited and its directors
Posted by nileshkokane on 30 August, 2010
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On August 04, 2010, the Hong Kong Stock Exchange issued a disciplinary action against Mascotte Holdings Limited and its six directors viz. Ms Chan Oi Ling Maria Olimpia, Mr. Au Yeung Kai Chor, Mr. Peter Temple Whitelam, Ms Wong Dickie, Mr. Chung Wilson and Mr. Lam Suk Ping for their respective breaches of Undertaking in failing to use their best endeavours to procure the Company’s compliance with Rule 13.09.
USA: Order of Revocation against Tracy K. Cronin
Posted by nileshkokane on 30 August, 2010
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This item was filled under [ Financial Regulators, USA ]
As published in the New York State Banking Department on August 10, 2010, Tracy K. Cronin DBA Eastland Mortgage, a mortgage broker registered pursuant to Article 12-D of the New York State Banking Law (the “Banking Lawâ€), failed to comply with the provisions of Section 591-a of the Banking Law and Part 410.14 of the Superintendent’s Regulations. It is hereby ordered that Cronin’s name as a mortgage broker should be deleted from the roll of mortgage brokers registered pursuant to Article 12-D of the Banking Law; and immediately returns the mortgage broker registration issued by this Department upon the date of this order.
USA: FINRA fines and suspends Charles Wyman Shirey
Posted by nileshkokane on 30 August, 2010
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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions August 2010, Charles Wyman Shirey was fined $7,500 and suspended from association with any FINRA member in any capacity for 30 business days.
USA: Enforcement action against Guaranty Development Company and its principal
Posted by nileshkokane on 30 August, 2010
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This item was filled under [ Financial Regulators, USA ]
On August 27, 2010, the Federal Reserve Board (FRB) announced a formal enforcement action initiated against Bruce Erickson on behalf of the Guaranty Development Company, and its subsidiary bank, American Bank and, by virtue of a Written Agreement by and between, the Federal Reserve Bank of Minneapolis and he Montana Division of Banking and Financial Institutions.
USA: Enforcement action against First Bancshares Inc. and its principal
Posted by nileshkokane on 30 August, 2010
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On August 27, 2010, the Federal Reserve Board (FRB) announced a formal enforcement action initiated against Christian D. Heitzman on behalf of the First Bancshares Inc., by virtue of a Written Agreement by and between, the Federal Reserve Bank of Minneapolis.
USA: SEC Enforcement Actions Today
Posted by nileshkokane on 27 August, 2010
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This item was filled under [ Financial Regulators, USA ]
1. Juan Jose Fernandez Garcia
2. Luis Martin Caro Sanchez
3. K&L International Enterprises Inc.
4. Signature Leisure Inc.
5. Signature Worldwide Advisors L.L.C.
6. Stephen W Carnes
7. Lawrence A Powalisz
8. Jared E Hochstedler
9. Enzyme Environmental Solutions Inc.
10. Robert T Harvey
11. Harvest Income L.L.C.
12. Jeanne M Rowzee
13. James Halstead
14. Thompson Consulting Inc.
15. Kyle J Thompson
16. E Sherman Warner
17. David C Condie
Singapore: MAS prohibits Kenneth Toh Soon Heng
Posted by nileshkokane on 27 August, 2010
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As published in the Monetary Authority of Singapore (MAS) that it has prohibited Kenneth Toh Soon Heng, a financial adviser’s representative of Kim Eng Securities Pte Ltd from providing any financial advisory service relating to structured notes (as defined under regulation 2(1) of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005) and from providing any financial advisory service by taking part, directly or indirectly, in the management of any financial adviser in Singapore, for one year with effect from 9 July 2010.
Singapore: MAS prohibits Toh Ong Tiam from dealing in structured notes transactions for a year
Posted by nileshkokane on 27 August, 2010
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This item was filled under [ Asia, Financial Regulators ]
As published in the Monetary Authority of Singapore (MAS) that it has prohibited Toh Ong Tiam, a holder of a capital markets services representative’s licence with Phillip Securities Pte Ltd from dealing in any new transactions involving structured notes (as defined under regulation 2(1) of the Securities and Futures (Offers of Investments) (Shares and Debentures) Regulations 2005) for one year with effect from 9 July 2010.
Singapore: MAS prohibits Sylvia Chen Peirong
Posted by nileshkokane on 27 August, 2010
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This item was filled under [ Asia, Financial Regulators ]
As published in the Monetary Authority of Singapore (MAS) that it has prohibited Sylvia Chen Peirong, formerly a financial adviser’s representative of DBS Bank Ltd from providing any financial advisory service and from providing any financial advisory service by taking part, directly or indirectly, in the management of any financial adviser in Singapore for six months with effect from 19 July 2010.
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