The Australian Securities and Investments Commission (ASIC) has banned Gregory William Finerty, the sole director of Bradford AI, a business that leased an automated trading robot, designed to work on FX trading platforms from providing any financial services for four years.
ASIC banned Mr Finerty after finding he carried on a financial services business without an Australian financial services (AFS) licence and engaged in misleading and deceptive conduct. He is banned from controlling, whether alone or with others, an entity that carries on a financial services business and performing any function involved in carrying on a financial services business.
Bradford AI leased an algorithmic trading program known as ‘Robot 1’ to trade on the FX market, using an Australia-based over the counter CFD broker.
ASIC found between about January…
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