On June 21, 2011 Hong Kong Securities & Futures Commission (SFC) published that the Court of First Instance today handed down reasons for its decision that the court has no jurisdiction to determine whether or not New York-based asset management company, Tiger Asia Management LLC (Tiger Asia) and three of its officers, Mr Bill Sung Kook Hwang, Mr Raymond Park and Mr William Tomita (collectively the Tiger Asia parties), have contravened Hong Kong’s insider dealing and market manipulation laws (Note 1).

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On June 22, 2011, National Futures Association (NFA) published that the association has taken an emergency enforcement action against D2W Capital Management LLC (D2W), Prestige Capital Advisors LLC (Prestige) and its principal, Toby Hunter. D2W and Prestige are Commodity Trading Advisors located in Charlotte, North Carolina.

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On May 19, 2011, National Futures Association (NFA) published that the association issued a Complaint charging Roslex Corporation, Gaberial Alexander Robles, Julio Cesar Aquino, Erick Emmanuel Ware and Philip Andrew Day with failure to uphold high standards of commercial honor and just and equitable principles of trade. The Complaint also charged RSX with failure to maintain required books and records; failure to maintain required capital; and failure to give required notice. Finally, the Complaint charged RSX and Robles with failure to supervise.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for June 2011, Montford Sater Will submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 60 days. After consideration of the sanctions the State of Ohio previously imposed on Will, FINRA determined to give him credit for the amount he paid the state and the 45-day suspension he previously served.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for June 2011, Charles Edward Severt Jr. was barred from association with any FINRA member in any capacity. FINRA is not seeking restitution because Severt’s relative repaid the funds to the church. The sanction was based on findings that, while serving as a church treasurer, Severt took approximately $20,000 in funds from the church without the church’s authorization.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for June 2011, Michael Lewis Serota submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Serota consented to the described sanction and to the entry of findings that he converted a total of $195,421.80 from the brokerage account of a customer of his previous member firm.

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On June 16, 2011 U.S. Securities and Exchange Commission (SEC) published that the commission on June 16, 2010 charged Lee B. Farkas, the former chairman and majority owner of Taylor, Bean and Whitaker Mortgage Corp. (TBW), which was once the nation’s largest nondepository mortgage lender with orchestrating a large-scale securities fraud scheme and attempting to scam the U.S. Treasury’s Troubled Asset Relief Program (TARP).

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On June 06, 2011 Financial Services Authority (FSA) published that the authority gave Mr Kevin Jonathan Dalglish trading as Dulwich Insurance Services, a Decision Notice on 03 May 2011 which notified him that for the reasons given below and pursuant to section 45 of the Financial Services and Markets Act 2000, the FSA had decided to cancel the permission granted to him pursuant to Part IV of the Act.

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On June 10, 2011 British Columbia Securities Commission (BCSC) published that the Executive Director ordered under section 164(1) of the Act on April 08, 2011, that all trading by the Insider in the securities of Mountain-West Resources Inc. cease until Mountain-West Resources files the required records and the Executive Director revokes the cease trade order.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for June 2011, Uzo Omar Chima was fined $75,000, suspended from association with any FINRA member in any capacity for two years, and ordered to pay $12,443.73, plus interest, in restitution to customers. The fine and restitution must be paid either immediately upon Chima’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier.

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National Futures Association (NFA) published that on June 3, 2011, a Subcommittee of NFA’s Membership Committee issued a Final Order Revoking Registration to SCOTT SCHAFFER.

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As per National Futures Association (NFA) decision, pursuant to a settlement offer submitted by Perry Hoffman on May 3, 2011, he was ordered not to apply for NFA membership, associate membership or principal status with any NFA Member prior to June 30, 2011. Hoffman was also ordered to abide by certain conditions for the first 90 days that he is an NFA Member or an Associate of any NFA Member in the future.

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On June 13, 2011 U.S. Securities and Exchange Commission (SEC) published that the commission filed suit in U.S. District Court for the Northern District of Texas on June 10, 2011, against Norman Forrest Germany and two companies he controls – E.B. Germany & Sons, LLC and Germany Energy Company – for conducting a fraudulent, unregistered offering of oil and gas-related securities. The Commission alleges that, from 2008 until May 2010, Germany and his companies raised more than $600,000 through the sale of promissory notes and interests in two Mississippi oil and gas projects.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2011, William Robert Whitehurst of Towson, Maryland was included in the list of suspended individuals for Failure to Comply with an Arbitration Award or Settlement Agreement Pursuant to FINRA Rule Series 9554.

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Australian Securities and Investments Commission (ASIC) published that Simon Duthie of Victoria has been included in the Register of unlicensed carried over instrument lenders.

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