On February 15, 2011 U.S. Commodities and Futures Trading Commission (CFTC) announced that it obtained a federal court order freezing assets held by defendants Brian Kim and Liquid Capital Management, LLC, both of New York, N.Y. The order, entered by the Honorable Denise L. Cote of the U.S. District Court for the Southern District of New York, also prohibits the destruction of books and records.

Continue reading...

On February 14, 2011 U.S. Commodities and Futures Trading Commission (CFTC) announced that it filed an anti-fraud civil lawsuit charging defendants PMC Strategy, LLC of Monroe, N.C., and its principals, Michael Hudspeth of Statesville, N.C., and Timothy Bailey of Monroe, N.C., with committing fraud in connection with operating a foreign currency (forex) Ponzi scheme that solicited at least $669,000 from more than 22 individuals since June 2008.

Continue reading...

On February 07, 2011 Financial Services Authority (FSA) published that the authority imposed a prohibition order on Daniel William Hassell pursuant to section 56 of the Financial Services and Markets Act 2000, prohibiting him from performing any function in relation to any regulated activity carried on by any authorised or exempt person or exempt professional firm on the grounds that he is not a fit and proper person.

Continue reading...

As per Disciplinary Actions Report for January 2011, Financial Industry Regulatory Authority (FINRA) published that Niels F. Rojas was barred from association with any FINRA member in any capacity. The sanction was based on findings that Rojas failed to respond to FINRA requests for information and documents.

Continue reading...

As per Disciplinary Actions Report for January 2011, Financial Industry Regulatory Authority (FINRA) published that Joseph Ricupero was barred from association with any FINRA member in any capacity. The SEC sustained the sanction following appeal of a NAC decision. The sanction was based on findings that Ricupero failed to respond to FINRA requests for information.

Continue reading...

On December 10, 2011 Karachi Stock Exchange (KSE) published that in continuation of earlier Notice No. KSE/N-6494 dated November 16, 2010. Members are hereby informed that M/s. IGI Finex Securities Limited, corporate member of the Exchange have noticed cancellation of the agentship of Mr. Zulfiqar Hyder Khan s/o Mr. Shama-ul-Badar Khan.

Continue reading...

On January 28, 2011 Securities and Exchange Board of India (SEBI) published that the exchange received a letter dated May 29, 2006 from Dhanalaxmi Roto Spinners Limited wherein DRSL had complained that Mr. Harmohan Singh Sabharwal had acquired 5,62,557 equity shares representing 14.42% equity capital of DRSL without making any disclosure to DRSL about such acquisition.

Continue reading...

On February 09, 2011 U.S. Commodity Futures Trading Commission (CFTC) announced that it filed an anti-fraud enforcement action charging Hasaan R. Steel of Brooklyn, N.Y., with fraudulently soliciting more than $1 million from 28 participants to invest in a commodity pool to trade commodity futures and securities. Steel, a self-described day trader of futures and stocks, has never been registered with the CFTC in any capacity, according to the CFTC’s civil complaint, filed under seal on February 7, 2011, in the U.S. District Court for the Eastern District of New York.

Continue reading...

On February 02, 2011 Federal Reserve Board (FRB) published the execution of Written Agreement by and between BankVest, Inc., Castle Rock, Colorado, a registered bank holding company, owns and controls Colorado Capital Bank, Castle Rock, Colorado, a state-chartered nonmember bank, and several nonbank subsidiaries and Federal Reserve Bank of Kansas
City.

Continue reading...

On February 01, 2011 British Columbia Securities Commission (BCSC) published that the Executive Director made an order (the Cease Trade Order) on January 31, 2011 under section 164 of the Securities Act, R.S.B.C. 1996, c. 418 that the Insider cease trading in the securities of Indicator Minerals Inc. until the Insider files the required insider reports and the Executive Director revokes the Cease Trade Order.

Continue reading...

On February 03, 2011 U.S. Commodity Futures Trading Commission (CFTC) published that the commission filed and simultaneously settled charges that James M. Peister and his company, Northstar International Group, Inc. defrauded commodity pool participants by concealing trading losses and using participants’ funds to make payments to other participants and for business and personal expenses. Peister resides in St. James, N.Y., and Northstar is located in Oceanside, N.Y.

Continue reading...

On February 02, 2011 U.S. Commodity Futures Trading Commission (CFTC) announced that it obtained more than $84 million in disgorgement and civil monetary penalties in a federal summary judgment order against defendants Charles E. Hays and his company, Crossfire Trading, LLC, both of Rosemount, Minn.

Continue reading...

On February 02, 2011 Financial Services Authority (FSA) published that in a case brought by the FSA Rupinder Sidhu (DOB 17/02/71), a management consultant, appeared before City of Westminster Magistrates’ Court charged with 23 counts of insider dealing, contrary to section 52 of the Criminal Justice Act 1993 and one count of money laundering contrary to section 328(1) of the Proceeds of Crime Act 2002.

Continue reading...

On December 21, 2010 Federal Deposit and Insurance Corporation (FDIC) published that Loren J. Veldhuizen and a representative of the Legal Division of the FDIC executed a Stipulation and Consent to the Issuance of an Order to Pay dated Dec. 21, 2010, whereby Respondent, solely for the purpose of this proceeding and without admitting or denying any violation of law for which a civil money penalty may be assessed, consented and agreed to pay a civil money penalty in the amount specified below to the Treasury of the United States.

Continue reading...

On Janaury 24, 2011 Alabama Securities Commission (ASC) published that Hallie Dixon, District Attorney for the 28th Judicial Circuit, Baldwin County, Alabama; and, Joseph P. Borg, Director of the ASC announce the arrest of George Louis McCaw, a resident of Diamond Head, Mississippi, for violations of the Alabama Securities Act. McCaw was arrested Dec. 16, 2010 at his home by agents of The Gulf Coast Regional Fugitive Task Force.

Continue reading...