I just decided to leavethe comfort of my lounge chair to post this, right or wrong this how I feel andwe yes you to make your own decisions on what I am about to post.
The rest I will leavethis up to the younger generation to sort out BUT I have had ENOUGH in tryingto battle with companies that don’t reply to emails and what bloody Americanfinancial companies like STATE STREET are trying to do????
I will ask all thosesensible investors what do you think? ????
Should I just shut upand not post or should I continue to educate others just trying to invest????
Having investedlike most all of my money in companies for our future and the money HUNGRYSHORTERS don’t help by MANIPULUPATION. ALWAYS REMEMBER THIS WORD as all thecompanies including HOTCOPPER, who may stop this post????
The following I obtainedfrom the internet and is good reading please read and comment to the FORUM.
PLEASE READ THEFOLLOWING BEFORE MAKING JUDGEMENT of MY COMMENTS.
Notably, institutional investors and savvy individuals frequently engage in short-selling strategies for bothspeculation and hedging simultaneously. Hedge funds are among the most activeshort sellers and often use short positions in select stocks or sectors tohedge their long positions in other stocks.
Is short selling Legalin Australia?????? The following is from the internet.
Isactivist short selling legal in Australia? Activist short selling is notprohibited in Australia, provided that the short sellers do not breach corporation’slaw. For example, while short selling is allowed, it is illegal for shortsellers to disseminate fraudulent information.
If you are a marketparticipant and you see or suspect market misconduct you must notify ASIC
23-081MRFong Financial Planners pleads guilty to dishonest conduct
On 24 March 2023, Fong Financial Planners Pty Ltdpleaded guilty in the Perth Magistrates Court to three charges of dishonestconduct while carrying on a financial services business.
In 2014, whilst serving as an authorised representativeof AMP, Fong Financial Planners acted dishonestly by recording information itknew to be false on forms submitted to AMP as part of client insuranceapplications.
Fong Financial Planners intentionally failed todisclose all relevant information relating to the personal circumstances of theclients, including details of their health and medical history. Had thisinformation been disclosed by Fong Financial Planners, further medicalassessments and questionnaires may have been requested by AMP and exclusionsmay have applied to some of the insurance policies.
The incomplete disclosure of the information byFong Financial Planners meant the duty of disclosure owed by the clients to theinsurer had not been met and they risked not being covered by AMP under therelevant policies.
The matter was committed to the District Court ofWestern Australia for mention on 19 May 2023 to fix a date for sentence.
The matter is being prosecuted by the CommonwealthDirector of Public Prosecutions following a referral from ASIC.
Background
Fong Financial Planners and its director, formerfinancial adviser Mr David Fong, were initially each charged with 11 offencescontrary to s1041G of the Corporations Act (21-311MR). The charges against Mr Fong and eight of the charges against Fong Financial Planners were discontinued following Fong Financial Planners’ pleas of guilty to the three charges above.
At the time of the offending, the maximum penaltyfor a company for engaging in dishonest conduct while providing financialadvice and carrying on a financial services business was a fine of either$7,650,000, or three times the total value of the benefits reasonablyattributable to the offence, or 10% of turnover in the 12-month period endingat the end of the month in which the offence was committed.
23-083MRALT Financial Group Ltd convicted and fined $123,000 for failing to lodgefinancial reports
ALT Financial Group Ltd ACN 609 449 194 has beenconvicted on multiple charges, including failing to lodge annual financialreports with ASIC, and fined a total of $123,000.
The fine is one of the largest handed down forthese breaches and reflects the seriousness of the offences and the potentialimpact it may have had on shareholders and creditors being denied informationthat would have enabled them to make informed decisions about their investmentsor dealings with the company.
The company failed to appear before the DowningCentre Court on 21 February 2023 and was convicted in its absence on 13 ASICcharges for failing to:
- lodge annual financial reports with ASIC for the 2018 to 2021 financial years
- report to members for the 2018 to 2021 financial years
- hold an annual general meeting (AGM) in 2018 to 2021 and
- comply with the requirement to have at least three directors, excluding alternate directors.
ASIC will continue to prosecute companies that arenegligent in their reporting responsibilities aimed at assisting shareholders,creditors and members of the public make informed decisions.
Background
ALT Financial Group Ltd is the holding company of alarger group of companies that operate as an alternative asset managementbusiness. Section 319 of the Corporations Act requires a disclosing entity andregistered scheme to lodge the complete financial reports within three monthsafter the end of the financial year. All other entities are required to lodgetheir financial reports within four months after the end of the financial year.
Section 315 of the Corporations Act requires acompany, registered scheme or disclosing entity to report to members for afinancial year by the earlier of 21 days before the next AGM after the end ofthe financial year or four months after the end of the financial year.
Section 250N of the Corporations Act requires publiccompanies to hold AGMs within 18 months after registration and at least onceper calendar year and within five months after the end of its financial year.
Section 201A (2) of the Corporations Act requirespublic companies to have at least three directors. At least two directors mustordinarily reside in Australia.
ASIC publishes six monthly reports of itsprosecutions against companies for failing to lodge financial reports.Refer 23-033MR for actions in the period 1 July 2022 to 31 December 2022.
22 March 2023 MEDIA RELEASE
23-079MR Alliance Insurance Broking Servicesdirector charged with breach of duties and dishonest conduct involving clientmonies
RenatoDe Maria, the sole director of Alliance Management Group Pty Ltd, formerlyAlliance Insurance Broking Services Pty Ltd (AIBS), has appeared in ...
Youknow what I am getting sick of the financial institution we have in GOOD OLDAUSTRALIA.
Pleaseread my information then continue either on your way or not be like we havebeen,
https://www.theprofessionalhobo.com/shell-be-right-mate-words-to-live-by/
WOULDYOU ALL PLEASE READ and MAKE UP YOUR OWN mind on this STUPID OLD BLOCK and saygood refence or STAND UP FOR WHAT is IMPORTANT to AUSTRALIA not AMERICAN influences.
READFROM THE FOLLOWING and open your EYES for once.
https://asic.gov.au/about-asic/news-centre/find-a-media-release/?mediaType=Media%20releases&topic=Financial%20markets
This is as always,my opinion and am I going to regret posting this, time will tell.
(20min delay)