The Australian Securities and Investments Commission (ASIC) has permanently banned Jonathan Kur of Dianella in Western Australia from providing financial services.
ASIC found that Kur engaged in misleading or deceptive conduct in relation to the options trading services he provided for a number of overseas clients as an authorised representative of Hogan and Partners Stockbrokers. Kur induced clients to trade in options by publishing a false statement. He also acted in contrary to his clients’ instructions and engaged in dishonest conduct in providing financial services.
The practice’s clients lost more than $9 million as a result of Kur’s behaviour. He resigned from his position on December 18 last year, and the practice closed two days later.
ASIC noted that the ban would send a strong message that Kur’s behaviour was unacceptable.
Kur has the right to appeal the decision.
