A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Radoslaw Andrzej Chrabalowski. In this agreement, Chrabalowski admits that he failed to meet his suitability obligations when he recommended an investment product for two elderly clients which was not suitable given their […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has approved a settlement agreement, with sanctions, between IIROC staff and Morgan Stanley Canada Limited. In this agreement, Morgan Stanley Canada admits that it failed to properly review and address the actions of a direct market access client that was engaged in potentially […]
The Investment Industry Regulatory Organization of Canada (IIROC) has announced that it has taken action concerning trades in BE Resources Inc. (BER), which took place on Friday, July 22, 2011.
IIROC currently holds over $32 million in an Externally Restricted ABCP Fund derived from fines and interest - a substantial sum of money by anybody’s standards. With IIROC expected to settle the disposition of the fund later this year, investors, advisors and legislators should consider the issues surrounding this fund and determine whether legislative and procedural changes are needed.
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Melaney Phillips violated IIROC rules by making unsuitable recommendations and discretionary purchases in client accounts, performing client services for which she was not qualified and selling some of her own shares to a client without ensuring the client obtained the […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has dismissed IIROC’s allegations against Christos Orestos Ilias. The panel found that Ilias did not fail to advise clients of certain deferred sales charges which applied to mutual fund investments he had recommended. As described in a news release dated February 3, 2011, […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Allan Mansfield Bush. In the agreement, Bush admits that he made unsuitable investment recommendations to two clients, and that he directly compensated three clients for account losses. The penalty against Bush is […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Mary Louise Kasten-Brown. In the settlement agreement, Kasten-Brown admits she failed her know-your-client and suitability obligations when she processed the opening of accounts and facilitated private share purchases for eight clients, without […]
A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Mary Louise Kasten-Brown. In the settlement agreement, Ms. Kasten-Brown admits she failed her know-your-client and suitability obligations when she processed the opening of accounts and facilitated private share purchases for eight clients, […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Elizabeth Maureen Morrison. With this agreement, Morrison admits that she failed in her know-your-client and suitability obligations when she facilitated investments in a private placement for approximately 179 clients, but failed to […]