Quadrus reaches settlement with the MFDA
The firm will be paying a $75,000 fine and $20,000 in costs for failing to supervise a rep adequately and not reporting possible violations by…
- By: James Langton
- February 7, 2017 February 15, 2019
- 14:00
Latest news in From the Regulators
Regulatory challenges remain for implanting blockchain, ESMA reports
It’s too soon for any regulatory action given that distributed ledger technology remains at an early stage, new ESMA report concludes
- By: James Langton
- February 7, 2017 February 15, 2019
- 10:35
Canadian sentenced to 12 years in U.S. jail for role in securities frauds
Gregg Mulholland pled guilty manipulating U.S. stocks and laundering more than US$250 million in fraudulent proceeds
- By: James Langton
- February 7, 2017 February 15, 2019
- 10:30
More work needed on certain financial benchmarks, IOSCO reports
The benchmark administrator has made “very significant progress,” with most of IOSCO’s recommendations, but room for improvement remains
- By: James Langton
- February 7, 2017 February 15, 2019
- 10:15
SEC warns investors about risks of investing in “alternative mutual funds”
These funds hold non-traditional investments or use complex investment and trading strategies, which represent added risks to investors
- By: James Langton
- February 3, 2017 February 15, 2019
- 13:00
U.S. CFTC reaches US$85-million settlement with RBS
Various RBS traders attempted to manipulate the U.S. dollar version of the global benchmark for interest rate products
- By: James Langton
- February 3, 2017 February 15, 2019
- 12:15
BMO among 21 firms to get a pass on parts of U.S. bank stress tests
Meanwhile, TD is among 13 firms that will still be subject to the qualitative evaluation of its capital planning
- By: James Langton
- February 3, 2017 February 15, 2019
- 10:40
OSC introduces CRM2-related website for clients
InvestmentReporting.ca aims to help investors understand the changes mandated as part of CRM2 in their new annual reports
- By: James Langton
- February 2, 2017 February 15, 2019
- 12:55
IIROC suspends former rep for three years
Kurt Haller, who admitted to churning and making unsuitable recommendations to an elderly client, was also fined $109,500
- By: James Langton
- February 2, 2017 February 15, 2019
- 12:40
Number of high-earning bankers in Europe rises in 2015
The largest population of high-earning bankers was in the U.K. as British bankers account for more than 80% of the top earners, the EBA reports
- By: James Langton
- February 2, 2017 February 15, 2019
- 11:00
New FSB guidance aims to prevent CCPs from becoming a source of risk
The guidance is intended to help authorities implement effective resolution regimes and develop credible resolution strategies and plans for CCPs
- By: James Langton
- February 1, 2017 February 15, 2019
- 16:00
U.K. regulators adopt changes to enforcement processes
The FCA’s and PRA’s changes are designed to enhance transparency for firms and individuals under investigation
- By: James Langton
- February 1, 2017 February 15, 2019
- 11:20
Signature falsification a major issue among MFDA-licensed firms
A new notice from the MFDA suggests the issue is prevalent and outlines the measure firms and reps should take to deal with it
- By: James Langton
- February 1, 2017 January 19, 2019
- 10:30
P.E.I. gives IIROC stronger enforcement powers
The SRO will be able to collect monetary sanctions from securities violators through the province’s Supreme Court without seeking approval in each case
- By: James Langton
- January 31, 2017 January 19, 2019
- 14:30
OSC names five new members to its SPAC
The new members, who replace those whose terms expired this month, join seven other Bay Street lawyers still serving on the SPAC
- By: James Langton
- January 31, 2017 January 19, 2019
- 11:15
Deutsche Bank fined a record £163 million for AML controls failings
The serious failings in Deutsche Bank’s AML controls allowed billions to be transferred from Russia to offshore accounts via the bank
- By: James Langton
- January 31, 2017 January 19, 2019
- 10:30
BCSC pays restitution to investor who lost money to a Ponzi scheme
The regulator recovered the funds under a settlement agreement with Keith Henry Alexander, an investor in a Ponzi scheme who brought in other investors
- By: James Langton
- January 30, 2017 January 19, 2019
- 16:00
OSC issues alert on binary options schemes using Kevin O’Leary’s image
The TV personality and federal Conservative leadership candidate has not approved his image for ads promoting binary options trading software or platforms
- By: James Langton
- January 30, 2017 January 19, 2019
- 14:20
B.C. insurance regulator cancels life agent’s licence
The OSC had suspended Liyaun Qi’s registration as an ultimate designated person and as a dealing representative permanently last year
- By: James Langton
- January 30, 2017 January 19, 2019
- 13:50
CSE on CSA’s latest list of fully “protected” marketplaces
Canada’s regulators new list of marketplaces with full protected status also include the major exchanges published in the initial list
- By: James Langton
- January 30, 2017 January 19, 2019
- 12:25
MFDA bans advisor for conducting unauthorized trades on client’s behalf
The former advisor also falsified multiple documents in order to process the trades so that he could meet his firm’s sales targets and receive higher…
- By: Tessie Sanci
- January 27, 2017 January 19, 2019
- 16:00
Former Wall Street trader convicted of securities fraud
Following a retrial, Jesse Litvak was found guilty of one count of securities fraud while being vindicated of the remaining nine charges against him
- By: James Langton
- January 27, 2017 January 19, 2019
- 15:20
SEC sanctions Citigroup for overbilling certain advisory clients
At least 60,000 clients were overcharged approximately US$18 million in unauthorized fees, the regulator’s order states
- By: James Langton
- January 26, 2017 January 19, 2019
- 16:15
MFDA bans advisor for personal financial dealings with a client
The advisor, who has also fined a minimum of $75,000, did not “deal fairly, honestly and in good faith with [his client],” who was also…
- By: Tessie Sanci
- January 26, 2017 January 19, 2019
- 14:40