Bank Gutenberg named for suspicious trading in pump and dumps http://www.vancouversun.com/business/Secretive+Swiss+bank+runs+afoul+trading+rules/8849687/story.html VANCOUVER — British Columbia Securities Commission investigators know that a Swiss-based bank traded hundreds of millions of dollars worth of stock through accounts at Vancouver brokerages and suspects the bank did it on behalf of B.C. residents, even though it isn’t allowed to. However, the bank — Zurich-based Bank Gutenberg AG — won’t tell commission investigators whether B.C. residents are trading through the accounts. It cites Swiss bank secrecy laws that prevents them from divulging client information. It is another case, though, that brings to light one of the securities commission’s key concerns: the use of offshore secrecy havens to hide trading from the B.C.’s regulators, trading that can result in “pump-and-dump” stock manipulations or insider trading. In a separate investigation, BCSC investigators are pursuing illegal insider trading allegations against a former Vancouver stock broker whom they allege used an account at Bank Gutenberg as part of his scheme. The specific allegation against Bank Gutenberg is simply that between January 2010 and February 2013, it traded the stock of B.C.-based public companies on behalf of two B.C. residents (with the suspicion it was doing so for others) without being registered in B.C. to do so. None of the allegations have been proven before the commission. Counsel acting for Bank Gutenberg, Vancouver securities lawyer Steve Warnett, declined to comment when contacted Friday. Read more: http://www.vancouversun.com/business/Secretive+Swiss+bank+runs+afoul+trading+rules/8849687/story.html#ixzz2dSGAx9fg nodummy tweeted a link to the BCSC release earlier this month: http://www.bcsc.bc.ca/release.aspx?id=17816 Bank Gutenberg AG has been mentioned in nodummy's PSS reports, including this one: http://promotionstocksecrets.com/octagon-88-resources-octx-the-complete-ugly-truth/