fines

Industry

IIROC suspends, fines rep $120,000 for unsuitable investments, discretionary trading

Clients lost $125,000 and $41,000, respectively.

By Staff |April 24, 2017

1 min read

Industry

CSA commenced almost half as many proceedings in 2016

Last year, CSA enforcement resulted in more than $62 million in fines, administrative penalties and voluntary payments. However, it’s difficult to compare that to 2015’s amount of $138 million, because that year saw a few cases with large fines. The 2016 amount better compares to that for 2014: $58 million. Included in the $62 million […]

By Michelle Schriver |April 21, 2017

4 min read

Industry

BCSC fines and permanently bans unregistered person

Fine of $3 million imposed for misleading investors

By Staff |April 19, 2017

2 min read

Industry

IIROC sanctions up 6% for individuals, but collection falls almost 50%

Sanctions against firms plummet 73%.

By Staff |April 19, 2017

2 min read

Sentry to pay $1.5M for improper, lavish rep gifts

Sentry Investments says it will pay a penalty of $1.5 million to the Ontario Securities Commission to settle allegations it engaged in improper sales practices by giving extravagant gifts to top-selling dealers between 2011 and last year. The investment firm says it has also agreed to pay the OSC’s investigation costs of $150,000 and that […]

3 min read

IIROC rep fined $100,000, suspended one month

On February 21, 2017, an IIROC hearing panel fined and suspended registered rep Richard Poirier. Poirier admitted facilitating a client’s investment in a private placement and accepting remuneration or a gratuity, benefit or other consideration from a person other than the dealer member with whom he was employed. Specifically, Poirier admitted to the following: The […]

By Staff |March 29, 2017

1 min read

MFDA sanctions IPC for failure to supervise

Failing to adequately supervise two approved persons has resulted in sanctions for IPC Investment Corporation. A hearing panel of the Central Regional Council of the Mutual Fund Dealers Association of Canada has issued its Reasons for Decision in connection with the firm’s settlement hearing held in Toronto on December 13, 2016. According to the hearing […]

By Staff |February 13, 2017

1 min read

fines

IIROC suspends, fines rep $120,000 for unsuitable investments, discretionary trading

CSA commenced almost half as many proceedings in 2016

BCSC fines and permanently bans unregistered person

IIROC sanctions up 6% for individuals, but collection falls almost 50%

Sentry to pay $1.5M for improper, lavish rep gifts

IIROC permanently bans and fines rep $669,500

IIROC rep fined $100,000, suspended one month

MFDA sanctions IPC for failure to supervise

Calgary advisor had undisclosed potential conflicts, says MFDA

MFDA fines Edmonton advisor for falsifying forms