On May 15, 2012 Australian Securities and Investment Commission (ASIC) published that it has applied to the Federal Court in Melbourne to inquire into the conduct of Melbourne liquidator, Mr Andrew Leonard Dunner, concerning the performance of his duties as a registered and official liquidator and as a receiver or manager of a total of eleven companies to which he has been appointed. ASIC is seeking orders that Mr Dunner be prohibited from holding the office of liquidator, provisional liquidator, voluntary administrator or administrator of a deed of company arrangement for such period as the Court sees fit, or alternatively, to declare there are grounds for the cancellation of Mr Dunner’s registration as an official liquidator.

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On May 16, 2012 British Columbia Securities Commission (BCSC) published that the panel has sanctioned two men and two companies for illegally raising money from Canadian and U.S. investors. In December 2011, a commission panel found that Daniel Scammell, Casper de Beer (aka Casha de Beer), Verified Transactions Corp. (VTC) and VerifySmart Corp. (formerly known as Verified Capital Corp.) traded in securities without being registered in B.C., and distributed those securities without filing a prospectus. From September 2006 to December 2008, Scammell and VTC raised $641,309 from 49 investors in B.C., Alberta and Washington State. The panel found that these securities were distributed illegally, as the exemptions from B.C. securities laws relied upon by Scammell and VTC did not apply to any of the distributions. Additionally, neither Scammell nor VTC were registered to trade securities, and VTC has never filed a prospectus in B.C.

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The Companies House of United Kingdom included the name Ali Aziz of 6 Ardley Close, Neasden, Middx in the list of Register of Disqualified Directors effective from April 15, 2008 to April 14, 2019.

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The Companies House of United Kingdom included the name Amjad Aziz of 31 William Cook Road, Ward End, Birmingham in the list of Register of Disqualified Directors effective from August 22, 2006 to August 21, 2013.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Blaine Carter Davis of Draper, Utah was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Jeffrey Scott Farmer of Longwood, Florida was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Enrico Joseph Franco of Jackson, New Jersey was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Christopher Ronald Guenther of Macedonia, Ohio was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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As published in the Financial Industry Regulatory Authority (FINRA) disciplinary actions report for May 2012, Douglas Edmond Inlay of Sioux City, Iowa was suspended for failure to comply with an arbitration award or settlement agreement pursuant to FINRA rule 9554.

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On May 15, 2012 U.S. Securities and Exchange Commission (SEC) announced that Edward J. Marino of Boston, Massachusetts, the former chief executive officer of Connecticut-based Presstek, Inc., has agreed to settle previously-filed charges that he aided and abetted Presstek’s violations of Section 13(a) of the Securities and Exchange Act of 1934 and Regulation FD. Regulation FD generally prohibits public companies from selectively disclosing material non-public information to certain investors without simultaneously disclosing it to all investors. Among other things, Marino has agreed to pay a $50,000 civil penalty.

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On May 15, 2012 U.S. Securities and Exchange Commission (SEC) published that the commission deems it appropriate that cease-and-desist proceedings be, and hereby are, instituted pursuant to Section 21C of the Securities Exchange Act of 1934 against Edward J. Marino (“Respondent”). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over him and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Cease–and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order, as set forth below.

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On May 15, 2012 U.S. Securities and Exchange Commission (SEC) published that the commission deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 against John Jantzen (“Respondent”). After an investigation, the Division of Enforcement alleges that: From January 1991 through February 2012, Respondent was a registered representative with Primerica Financial Services Investments, Inc., an investment adviser registered with the Commission. For a portion of the time in which he engaged in the conduct underlying the complaint described below, Respondent held the following FINRA licenses: Investment Company Products/Variable Contracts Limited Representative (Series 6), Investment Company Products/Variable Contracts Limited Principal (Series 26), and Uniform Securities Agent State Law (Series 63).

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On May 15, 2012 Financial Services Authority (FSA) published that it has fined Habib Bank AG Zurich £525,000 and its former Money Laundering Reporting Officer Syed Itrat Hussain £17,500 for failure to take reasonable care to establish and maintain adequate anti-money laundering (AML) systems and controls. The failings at Habib lasted almost three years and exposed the firm to an unacceptable risk of laundering money. Habib is a privately owned Swiss bank with twelve branches in the UK and approximately 15,500 customers. Approximately 45% of its customers were based outside the UK and about half of its deposits came from jurisdictions which, according to independent international organisations, had less stringent AML requirements or were perceived to have higher levels of corruption than the UK.

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On May 15, 2012 Hong Kong Securities & Futures Commission (SFC) published that the commission applied for a review of the sentence imposed on futures manipulator, Mr Tsoi Bun, following his conviction on five charges of manipulating the calculated opening prices of index futures contracts in the futures market (Note 1). On 30 January 2012, the Eastern Magistracy sentenced Tsoi to six months imprisonment to be suspended for two years, fined him $500,000 and ordered him to pay the SFC’s investigation costs. The SFC sought a review of the sentence because the fine was substantially less than the $949,350 in profit earned by Tsoi in committing the manipulation offences for which he was convicted.

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The Companies House of United Kingdom included the name Urfat Azam of 26 Irving Place, Blackburn, Lancashire in the list of Register of Disqualified Directors effective from February 23, 2010 to February 22, 2023.

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