On August 03, 2010 the Securities and Exchange Board of India (SEBI), the capital market regulator passed an Adjudication order against Deepak Todkar. It was alleged that Mr. Todkar violated Regulations 4(1) and 4(2) (a) of SEBI (PFUTP) regulations, 2003 and accordingly adjudication proceedings were initiated and hence liable for monetary penalty.

Continue reading...

On August 03, 2010 the Securities and Exchange Board of India (SEBI), the capital market regulator passed an Adjudication order against Ranjan Mandal. It was alleged that Mr. Ranjan violated Regulations 4(1) and 4(2) (a) of SEBI (PFUTP) regulations, 2003 and accordingly adjudication proceedings were initiated.

Continue reading...

The Financial Services Authority of United Kingdom has issued a final notice to Paul Simon Willment on August 3, 2010 about the imposition of a financial penalty on him and an order prohibiting him from performing any function in relation to any regulated activity carried on by any authorised person, exempt person or exempt professional firm.

Continue reading...

On August 03, 2010 the Securities and Exchange Board of India (SEBI), the capital market regulator passed an Adjudication order against Navin Trikamdas Thakkar. The findings of the investigation led to the allegation that Mr. Thakkar was allegedly connected to the director of EL and transferred 11,27,050 shares to T.H. Vakil and Securities Pvt. Ltd. These shares were offloaded in the market through a web of entities which allegedly created volume in the market.

Continue reading...

As published in the Securities and Futures Commission on August 17, 2010, The Court of Appeal dismissed an appeal by Mr. Chan Chin Yuen who was earlier jailed for conspiring to manipulate the market in the shares of Asia Standard Hotel Group Limited. Chan was sentenced to 30 months in jail on 26 November 2009 in what was the largest market manipulation case prosecuted in Hong Kong. Three co-conspirators – Chan’s brother, sister-in-law, and a friend – were jailed for 26 months each.

Continue reading...

The Financial Services Authority of United Kingdom has issued a final notice to Daniel Amos trading as The Flexi Mortgage and Loan Centre on 16th August 2010 about their decision to cancel the permission granted to carry on regulated activities. This notice comes as Daniel Amos didn’t respond to a Decision Notice served to them on 8 July 2010 within the stipulated timeframe.

Continue reading...

The Financial Services Authority of United Kingdom has issued a final notice to Akinfenwa Oyadare trading as The Flexi Mortgage and Loan Centre on 16th August 2010 about their decision to cancel the permission granted to carry on regulated activities. This notice comes as Akinfenwa Oyadare didn’t respond to a Decision Notice served to them on 8 July 2010 within the stipulated timeframe.

Continue reading...

On August 2, 2010 the Alabama Securities Commission issued an Administrative Order against Capital Management Advisors Inc., Consolidated Capital Management Inc. and their principals’ viz. Teddy Joe Propes and Tommie Jacob Goggans III.

Continue reading...

As published in the Australian Securities and Investment Commission on August 12, 2010, the ASIC disqualified 13 directors from managing corporations following their involvement in failed companies. The disqualified directors identified Alan John King, Michael Bartholomew Limerick, Stephen Philip Hill, Alison Newham, Blagojce Djoneski, Richard Curtin, Robert James Doon, David Valentine Parnis, Susan Pepper, Brendan Truesdale, Christopher Gerald Savage, Stuart James Peat and Marijan Sujster.

Continue reading...

On August 16, 2010, the British Columbia Securities Commission issued Revocation Order against George A. Brown that the cease trade order is revoked.

Continue reading...

On August 16, 2010, the Federal Reserve Board (FRB) announced a formal enforcement action initiated against Debra G. Neal on behalf of the Madison Financial Corporation and its subsidiary bank, Madison Bank, and, by virtue of a Written Agreement by and between, the Federal Reserve Bank of Cleveland and the Commonwealth of Kentucky Department of Financial Institutions.

Continue reading...

On August 16th, 2010, the Federal Reserve Board (FRB) has issued a prompt corrective action directive to Brantly K. Chappell on behalf of the First Banking Center to carry out the purposes of section 38 of the FDI Act.

Continue reading...

The Federal Deposit Insurance Corporation (FDIC) on May 20, 2010 announced the issuance of a Consent Order of Prohibition against Trena M. Smith, an institution-affiliated party of the Citizens Bank of Pennsylvania. FDIC finds Smith has engaged or participated in violations, unsafe or unsound banking practices, and/or breaches of fiduciary duty as an institution-affiliated party of Citizens Bank of Pennsylvania, Philadelphia, Pennsylvania.

Continue reading...

The Federal Deposit Insurance Corporation (FDIC) on May 20, 2010 announced the issuance of a Consent Order of Prohibition against John F. Gallagher, an institution-affiliated party of the Commerce Bank & Trust Company. FDIC finds Gallagher has engaged or participated in violations, unsafe or unsound banking practices, and/or breaches of fiduciary duty as an institution-affiliated party of Total Bank, Worcester, Massachusetts.

Continue reading...

The Federal Deposit Insurance Corporation (FDIC) on May 20, 2010 announced the issuance of a Consent Order of Prohibition against Antoinette Rios, an institution-affiliated party of the Total Bank. FDIC finds Rios has engaged or participated in violations, unsafe or unsound banking practices, and/or breaches of fiduciary duty as an institution-affiliated party of Total Bank, Miami, Florida.

Continue reading...