ASIC is concerned that Berndale Capital Securities Pty Ltd, its associated entities and its former director Mr Stavro D’Amore may have breached client money obligations and contravened other laws.
Berndale was a retail OTC derivative issuer and its Australian Financial Services licence was cancelled on 22 November 2018. At the same time, Mr D’Amore was banned from providing financial services for a period of six years.
Berndale and ASIC appeared before the Honourable Justice David John O’Callaghan in the Federal Court in Melbourne on 19 December 2018, following ASIC’s initial application and interim orders made on 5 December 2018.
ASIC’s investigation is continuing.
The matter is next before the Federal Court on a date to be fixed in February 2019.
