Board Director slapped with $50,000 fine and 1 month bar for insider trading
Ryan Parker, board director of Borneo Industrial Fishery was fined $50,000 and slapped with a 1 month trading bar for insider trading.
Press Release (ePRNews.com) - NEW YORK - Jun 27, 2017 - Slapped with a $50,000 fine and 1 month trading bar, Ryan Parker, director of Borneo Industrial Fishery Corp Inc was found to have engaged in profiteering of insider information during the reverse merger of his company on the OTC Stock Market.
He and the top executives were alleged to have acted on trades from information that had not been made public, allowing for undue profiteering through opening of positions that would benefit from the market movement after the public announcements were made.
Ryan Parker could not be contacted for further information. The county clerk stated that Ryan Parker who is currently residing in Sarawak, Malaysia was offered a minimal fine and bar due to his admission, cooperation and also being his first offense.
The SEC and other associated regulating bodies oversee the trading and maintenance of the stock market trading platform of the USA. It actively monitors trades and market positions of all trades to ensure fairness in trading.
To know more about Borneo Industries Fisheries, visit: http://www.borneoindustrialfishery.comSource : Borneo Industrial Fishery Corp Inc