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.
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