Sanctions against firms plummet 73%.
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 […]
"Egregious" misconduct also garners fine of $200,000.
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: In […]
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 […]
She admitted to facts constituting contraventions of MFDA by-laws, rules or policies.
The advisor admitted to falsifying or using pre-signed account forms for more than a dozen clients, among other issues.
As the country’s biggest province, it’s no surprise that Ontario has the most IIROC registrants and the most fines outstanding since 2008—$18 million as of June 30, 2016. But what may be surprising is that Ontarians owe more than their share of the national fines outstanding to IIROC: Ontario’s fines are 62% of the national […]
The OSC found that in 2006 and 2007, she recommend and facilitated off-book investments for her clients without her employer's knowledge or approval.
Kennedy, who works in Hamilton, Ont., admitted to conduct involving the supervision of registered representative Alistair Melville’s activities.