Provincial regulators have approved trading rule amendments regarding the “best price” obligation, the Investment Industry Regulatory Organization of Canada said Friday.The amendments were implemented back on May 16, 2008, and are currently in force, however they still required approval of the provincial regulators.The “best price” obligation requires a market participant to make “reasonable efforts” to […]
First Canada Capital Partners and the firm’s president fined $40,000
Proposed rule mandates yield disclosure for fixed income securities
Penalty and costs called “reasonable and appropriate”
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has suspended the membership of Credifinance Securities Ltd., following following an expedited hearing in Toronto on March 6.The panel also ordered that Credifinance comply with IIROC dealer member Rule 600 throughout the suspension period, and cease dealing with the public immediately.The company must […]
Ability to carry out administrative responsibilities impaired by consumption of prescribed medication
Move to a more principles-based approach to regulation is desirable
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement entered into between IIROC staff and Montreal broker André Niding.The Investment Dealers Association of Canada formally initiated the investigation into the Niding’s conduct on Feb. 8, 2007.Under the IIROC settlement agreement accepted on Feb. 12., Niding acknowledged that […]
The Investment Industry Regulatory Organization of Canada says that the implementation of trading rule amendments requiring the reporting of certain failed trades is being deferred. The new requirements were scheduled to take effect March 1.Last October IIROC announced that it has received approval for amendments that included requirements for reporting certain failed trades to the […]
Although an IIROC report finds that the ban had its costs, some still say the move was justified