fines

MFDA bans, fines rep for failure to respond Fallback Image Decorative pattern

Industry

MFDA bans, fines rep for failure to respond

On Oct. 11, 2017, an MFDA hearing panel permanently banned and fined a previously registered representative, Walter John Dixon. The sanctions result from Dixon’s failure to respond to numerous communication attempts by the MFDA about a client complaint. Over 11 months, the MFDA attempted to contact Dixon by regular mail, registered mail, process servers, email […]

By Staff |November 15, 2017

1 min read

BCSC bans, fines two for market manipulation Fallback Image Decorative pattern

Industry

BCSC bans, fines two for market manipulation

A British Columbia Securities Commission (BCSC) panel has fined and permanently banned David Tuan Seng Lim and Michael Mugford from B.C.’s capital markets for market manipulation. Lim, a Vancouver resident, was an investment advisor who was registered under the Securities Act during the relevant period. Mugford was a Lions Bay, B.C. resident who was a […]

By Staff |October 26, 2017

2 min read

MFDA fines 6 reps $55K combined — one for faking mother’s signature Fallback Image Decorative pattern

Industry

MFDA fines 6 reps $55K combined — one for faking mother’s signature

Cases also highlight pre-signed forms

By Staff |August 1, 2017

3 min read

Scotia Capital fined $200,000 for failure to supervise reps Fallback Image Decorative pattern

Industry

Scotia Capital fined $200,000 for failure to supervise reps

On July 5, 2017, an IIROC hearing panel accepted a settlement agreement, with sanctions, between IIROC staff and Scotia Capital Inc. Scotia Capital admitted it failed to adequately supervise two registered representatives when they recommended unsuitable securities transactions for clients. The transactions weren’t in keeping with good business practice, contrary to IIROC dealer member rules […]

By Staff |July 19, 2017

1 min read