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On 17 June 2020, Justice Davies of the Federal Court of Australia delivered judgment regarding pecuniary penalties, disqualification orders and injunctions in a binary options case ASIC brought against One Tech Media Ltd (OTML), Allianz Metro Pty Ltd (Allianz Metro), Eustace Senese and Yoav Ida. The judgment follows findings made by Justice Davies in February …

Federal Court imposes $1.8m penalty on One Tech Media Ltd and permanently bans Eustace Senese from managing corporations and carrying on financial services businesses Read More »

Mr Zhonghan Wu (also known as John Wu), former Chief Financial Officer of Traditional Therapy Clinics Limited (TTC), has been charged with 19 counts of market manipulation, eight counts of attempted market manipulation, six counts of forgery and three counts of fraud following an ASIC investigation. Mr Wu, of Bella Vista, New South Wales, appeared …

Former CFO charged with market manipulation and fraud offences Read More »

Mr Gilman Edwin Wong, the former Chief Executive Officer and Director of Sirtex Medical Limited, has been sentenced in the District Court of New South Wales having pleaded guilty to an offence of insider trading (19-168MR). Appearing before His Honour Judge Bennett SC, Mr Wong, of Sydney, was sentenced to one year and six months’ …

Former CEO and director of Sirtex Medical Limited sentenced for insider trading Read More »

ASIC has banned Ian Williams, Peter Daly and Paul Raftery from providing any financial services for a period of five years each. They were all directors of Linchpin Capital Group Ltd (Linchpin) and Mr Williams and Mr Raftery were also directors of Endeavour Securities (Australia) Ltd (Endeavour). ASIC’s banning decisions were made in November 2019. …

ASIC bans three directors of Linchpin and Endeavour Read More »

Bassem Fares of Sydney, New South Wales, has been convicted of giving misleading information. Mr Fares created misleading documents, which were then provided to financial institutions in support of loan applications. Mr Fares, a former lending officer with Firstfolio Services Pty Ltd (Firstfolio), appeared in the Downing Centre Local Court having pleaded guilty to five …

Lending officer convicted of giving misleading information Read More »

ASIC has outlined its expectations for all market participants to act appropriately to ensure Australia’s equity markets remain resilient. In a letter published today [14 May, 2020], all equity market participants are requested to take reasonable steps to ensure the number of trades matched from their orders: are capable of being handled by their internal …

ASIC sets expectations for maintaining equity market resilience Read More »