HSBC broker banned
The Australian Securities and Investments Commission (ASIC) has banned a former HSBC InvestDirect securities representative from acting as a representative of a dealer or investment adviser for two years.
The ban against Jason Leo Bohringer follows an ASIC investigation which found he had created a misleading appearance with respect to the price of shares in EBet.
ASIC says it also found Bohringer had failed to act honestly, efficiently and fairly as a representative of a dealer.
ASIC accuses Bohringer of executing orders to buy EBet shares that were not genuine but intended to raise the closing price.
The investigation follows a complaint from HSBC Bank (Australia), who employed Bohringer as a senior designated trading representative.
Recommended for you
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
HLB Mann Judd Perth has announced its acquisition of a WA business advisory firm, growing its presence in the region, along with 10 appointments across the firm’s national network.
Unregistered managed investment scheme operator Chris Marco has been sentenced after being found guilty of 43 fraud charges, receiving the highest sentence imposed by an Australian court regarding an ASIC criminal investigation.
