fines

Former Wellington West rep fined $120,000 Fallback Image Decorative pattern

Industry

Former Wellington West rep fined $120,000

In a decision on October 6, 2011, an IIROC hearing panel found Carolann Steinhoff, former rep at Wellington West Capital, acted contrary to IIROC rules. She made discretionary purchases in a client’s account, practiced unsuitable use of margin and unsuitable investments for clients. When her firm’s compliance department questioned the purchases, Steinhoff told them the […]

By Staff |July 20, 2012

2 min read

Fine Friday: Hefty penalties for illegal activity Fallback Image Decorative pattern

Industry

Fine Friday: Hefty penalties for illegal activity

Friday the 13th was indeed bad luck for several ex-associates from various firms. They’re being forced to pay hefty fines for outsider dealing. Here’s our roundup of these woeful employees. Former Investia rep fined $150,000 A disciplinary hearing in the matter of Punch Bun Chiu Lui, a mutual fund salesperson with Investia Financial Services, found […]

July 13, 2012

2 min read

Former IPC rep to pay $35,000 Fallback Image Decorative pattern

Industry

Former IPC rep to pay $35,000

A hearing panel of the Central Regional Council of the MFDA has issued Reasons for Decision, in connection with the disciplinary on June 1, 2012 in the matter of Jeffrey Murray Willis. Willis was registered in Ontario as a mutual fund salesperson with IPC Investment Corporation from August 6, 1999 to May 31, 2009, and […]

By Staff |July 13, 2012

1 min read

Former Investia rep fined $150,000 for outside activities Fallback Image Decorative pattern

Industry

Former Investia rep fined $150,000 for outside activities

A disciplinary hearing in the matter of Punch Bun Chiu Lui, a mutual fund salesperson with Investia Financial Services, was held yesterday before a hearing panel of the MFDA’s Central Regional Council. The panel found Chiu Lui guilty of allegations set out in a notice of hearing dated April 12, 2012. They were: Allegation #1: […]

By Staff |July 13, 2012

2 min read