ASIC Cancels AFS Licence of OTC Derivative Issuer Berndale

[kreslik.news]

The Australian Securities and Investments Commission (ASIC) announced this Friday that it has cancelled the Australian Financial Services (AFS) licence of Berndale Capital Securities Pty Ltd, a Melbourne-based over-the-counter (OTC) derivative issuer.

Not only was the firm’s licence revoked, but ASIC has also banned Stavro D’Amore from providing financial services for six years. D’Amore is a former director of Berndal and was the sole responsible manager and the key person on the AFS licence.

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Following an administrative hearing, ASIC discovered that Berndale failed to meet the standards of the read more)