From the Regulators

Lower fined $50,000

By IE Staff |

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has permanently banned Scott Philip Lower for refusing to co-operate with an IIROC investigation.

Following a disciplinary hearing held on August 11, in Vancouver, the panel found that Lower failed to attend and give information in respect of an IIROC investigation into his conduct while he was an approved person with the Vancouver office of Glboa Securities Corp.

The panel imposed on Lower a $50,000 fine and permanent ban on registration in any capacity. It also ordered him to pay costs in the amount of $5,065.

IIROC formally initiated the investigation into the Lower’s conduct on Sept. 17, 2008. He is no longer registered in any capacity with an IIROC-regulated firm.

The Hearing Panel issued its Decision and Reasons on September 1, 2009. The Hearing Panel's Decision and Reasons are available on IIROC’s website.