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: […]
A disciplinary hearing in the matter of Jose Luis Bautista, a mutual fund salesperson with MGI Financial Inc., was held yesterday before a three-person hearing panel of the MFDA’s Central Regional Council. It found Bautista guilty of the allegations set out in a notice of hearing dated January 23, 2012. They were: Allegation #1: Between […]
On June 18, 2012, an IIROC hearing panel accepted a settlement agreement between the IIROC staff and Portfolio Strategies Securities, a Toronto-based investment dealer. Portfolio Strategies failed to designate a supervisor qualified to oversee options trading at the firm from December 2009 to November 2010. It also didn’t supervise the activities of an agent and […]
The AMF, the Quebec financial regulatory body, has launched a penal proceeding in the district of Saint-Maurice. It’s filed 19 charges against Tuteur Modulaire J. C. Inc. and its two shareholders and officers, Jocelyn and Claude Lapierre. The Lapierre brothers—who claimed to be creating a structure for growing plants—allegedly approached investors who gave them money […]
Maitland Capital allegedly operated a boiler room scheme from two locations in Toronto; the company raised approximately $5.5 million through sales to 1200 investors. Two have been jailed, several disgorged and the company faces $1 million in fines.
On June 25, 2012, an IIROC hearing panel accepted a settlement agreement between IIROC staff and Wellington West Capital Inc., which is now National Bank Financial Inc.
Daniel Micha, a broker with RBC Capital Markets in 2009 has been fined and suspended by FINRA because he made trades that were unauthorized by his client and then failed to report her complaints. On August 18, 2009, Micha sold nine securities positions with a total worth of $326,000 without his client’s consent. Soon after, […]
On June 4, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between the IIROC staff and James Gwilym Jones. Jones admitted he failed to use due diligence to learn and remain informed of the essential facts relative to six clients, and failed to ensure recommendations were […]
A settlement hearing in the matter of Douglas A. Lawson was held today in Toronto before a hearing panel of the MFDA’s Central Regional Council. In the settlement agreement, Lawson admitted he approved, recommended and allowed the sale of Promittere S&P 500 (Promittere) shares, a related company of Wealth Advisory Services, to over 40 clients. […]
A disciplinary hearing in the matter of Vaughan Spencer was held today in Toronto, before a three-person panel of the MFDA’s Central Regional Council. Spencer failed to comply with the MFDA during an investigation of one of his colleagues at IPC Investment Corporation. On March 1, 2011, Spencer failed to attend an interview requested by […]