The corporate regulator has banned a former Sydney-based equities trader after an investigation found manipulation of share prices.
Anton Kerstens, a former director of North Sydney dealership Ark Equities, has been banned from providing financial services for five years, ASIC has announced.
“ASIC’s investigation found that for a period of almost five months in 2012, Mr Kerstens was involved in numerous dealings through his company, Ark Equities, which had the effect of supporting the price of Cauldron Energy shares at a time their price was falling," the statement said.
“ASIC found that these dealings created a false and misleading appearance of the price for the shares in Cauldron Energy, and were intended to affect the trading behaviour of others in the market.”
The shadow treasurer says advisers can’t be blamed for the high cost of advice as they struggle with increased levies ...
The advice network says it has upgraded its expectation for cost savings to $4 million as a result of Diverger’s ...
Single adviser-led firms continue to expand their footprint in the Australian advice ecosystem, Adviser Ratings research ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin