On June 06, 2011 U.S. Securities and Exchange Commission (SEC) published that the commission charged Dean A. Goetz on June 3, 2011, with insider trading in the securities of Advanced Medical Optics, Inc. (NYSE: EYE) in advance of the January 12, 2009 announcement that Abbott Laboratories, Inc. would acquire Advanced Medical Optics in a tender offer. Goetz traded based on material, nonpublic information regarding the impending merger and acquisition involving Advanced Medical Optics that he misappropriated from his daughter, a lawyer who, at the time, worked for the law firm representing Advanced Medical Optics in the transaction.

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On May 05, 2011 Investment Industry Regulatory Organization of Canada (IIROC) published that following a disciplinary hearing held on April 20, 2011 in Toronto, Ontario, a Hearing Panel of the IIROC found that David Bruce Connacher was liable of misleading and deceptive trading and engaging in personal financial dealings. The Hearing Panel accepted the facts and allegations as proven in the Notice of Hearing and immediately proceeded to a penalty hearing.

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On June 02, 2011 The Economics Times published that recently the United States Justice Department started a probe into bank accounts opened by US residents with HSBC India , which remained hidden or undisclosed to the US Internal Revenue Service (IRS). According to the Justice Department, HSBC is alleged to have advised its NRI clients that the bank would not disclose the existence of their Indian accounts or any transactions done through those accounts.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2011, Rodney James McClellan of Boynton Beach, Florida was included in the list of barred individuals for Failure to Provide Information or Keep Information Current Pursuant to FINRA Rule 9552(h).

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On May 26, 2011 U.S. Commodity Futures Trading Commission (CFTC) announced that it obtained a federal default judgment order requiring defendant Richard D. Theye of Austin, Texas, to pay more than $6.2 million in restitution and civil monetary penalties for operating a commodity pool Ponzi scheme. The order stems from a CFTC complaint filed on June 1, 2010, that charged Theye and his company, Micind Capital Management, Inc., with fraud in connection with running a multi-million dollar Ponzi scheme.

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On May 24, 2011 U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the United States District Court for the Southern District of New York against Parnon Energy Inc. of California, Arcadia Petroleum Ltd. of the United Kingdom, Arcadia Energy (Suisse) SA of Switzerland, James T. Dyer of Australia and Nicholas J. Wildgoose of California, charging them with unlawfully manipulating and attempting to manipulate New York Mercantile Exchange (NYMEX) crude oil futures prices from January 2008 to April 2008.

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On April 26, 2011 Federal Reserve Board (FRB) published the execution of Written Agreement by and between The Leaders Group, Inc., Oak Brook, Illinois, a registered bank holding company, owns and controls The Leaders Bank, Oak Brook, Illinois, a state-chartered nonmember bank, and a nonbank subsidiary and Federal Reserve Bank of Chicago.

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On April 21, 2011 Securities and Exchange Board of India (SEBI) published that the Board came across media reports on March 30, 2011 that Mr. Rajeev Bansal, a sub-broker having SEBI Registration No. INS2329101112 and INS012923012, affiliated to M/s. ICICI Securities Limited (I-Sec), stock broker of National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) and his wife Mrs. Reena Bansal have allegedly defrauded some investors. In view of the said reports, SEBI sought and obtained details of transactions by Mr. Bansal and Mrs. Bansal, from NSE, BSE, National Securities Depository Ltd. (NSDL), Central Depository Services (India) Ltd. (CDSL) and I-Sec.

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On May 24, 2011 Financial Services Authority (FSA) published that the authority has fined Samuel Kahn £1,094,900 and obtained a High Court injunction restraining him from committing market abuse. This is the first time the FSA has secured a final injunction from the High Court to prevent market abuse and also the first fine calculated under the new penalties system. Between 24 March 2010 and 30 April 2010, Kahn co-ordinated a scheme to deliberately inflate the share price of Global Brands Licensing plc, a company quoted on PLUS Stock Exchange a Recognised Investment Exchange. Kahn orchestrated and controlled the vast majority of the trading in GBL’s shares in March and April 2010, disguising his involvement in the scheme by repeatedly impersonating other people when placing orders to trade in GBL’s shares and co-ordinating trading conducted by third parties.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2011, Douglas Daniel Ivan 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, Ivan consented to the described sanction and to the entry of findings that without his member firm’s knowledge, consent or authorization, he executed an agreement purportedly on the firm’s behalf, in which a non-customer corporation agreed to pay the firm a $35,000 refundable deposit in exchange for the firm agreeing to act as an exclusive placement agent to assist the corporation in arranging for $8 million dollars in debt financing.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2011, Nick Nobuo Ichimaru submitted a Letter of Acceptance, Waiver and Consent in which he was fined $20,000, suspended from association with any FINRA member in any capacity for 18 months and ordered to pay restitution to a customer in accordance with a stipulated judgment. The fine must be paid either immediately upon Ichimaru’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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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2011, Jack Michael DeGiulio submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for five months. The fine must be paid either immediately upon DeGiulio’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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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2011, Michael Jon Davies submitted an Offer of Settlement in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for six months. Without admitting or denying the allegations, Davies consented to the described sanctions and to the entry of findings that he engaged in a pattern of check-kiting, in which he wrote checks totalling $1,070 from his personal bank checking account, maintained at another bank and payable to himself, deposited the checks into another personal checking account of his that was maintained at his firm’s bank affiliate, even though he knew or should have known that he had insufficient funds in his account maintained at the other bank to cover the checks, and then immediately withdrew these funds via automatic teller machine (ATM) from that checking account at his firm’s bank.

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On May 05, 2011 Hong Kong Securities & Futures Commission (HKSFC) published that the Eastern Magistracy today convicted Mr Lo Chun Lam of one count of issuing an advertisement promoting an unlicensed business of advising on futures contracts when he was not licensed by the SFC to do so. Lo, who pleaded guilty today, was fined $1,500 and was ordered to pay the SFC’s investigation costs.

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On May 05, 2011 Financial Services Authority (FSA) published the statement in order to warn investors against dealing with unauthorised firms and individuals. This statement is to advise members of the public that an individual and/or organisation identifying itself to UK individuals as MUNIR MUGHAL T/A MORTGAGE BUREAU (UK) HAYES of 94 LANSBURY DRIVE, HAYES, MIDDLESEX UB4 8SD is not authorised under the Financial Services and Markets Act 2000 (FSMA) to carry on a regulated activity in the UK.

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