(July 14 – 14:30 ET) – The Ontario District Council of the Investment Dealers Association of Canada has imposed discipline penalties on Malcolm Robert Bruce Kyle, former president and CEO of Derivative Services Inc.
Discipline penalties have also been imposed on DSI, including termination of membership.
The District Council concluded that both Kyle and DSI engaged in business conduct or practice detrimental to the public interest by failing to provide documents or other information requested by Association staff in the course of an investigation.
Kyle was fined $45,000 and given a revocation of approval. He was also barred from re-approval until the above fine is paid, fine imposed on DSI is paid, and Kyle and DSI have paid the costs ordered payable to the Association. DSI must also comply with the relevant request for documents and information. The District Council ordered Kyle and DSI to pay $5,000.00 towards the Association’s costs.
-IE Staff