Notice also outlines current rules, expectations and industry best practices
New single entity to succeed IDA, RS
Firm failed to co-operate with regulator’s investigation
IDA imposes $80,000 fine
Penalty hearing for Toban to be held on Dec. 20
Firm failed to supervise former Vancouver rep
Pair fined $25,000 each; suspended for 9 months
Sanctions imposed upon Katmarian were reasonable
New approach properly reflects the lower risk associated with private placements of four-month restricted securities during the underwriting distribution period
Firms must have in place policies and procedures requiring that all other business activities are disclosed and approved