A 2016 review found weaknesses in the firm’s internal controls and supervisory systems
IIROC’s plans have been criticized by industry and investors advocates
The Quadrus rep failed to disclose a criminal charge and a conditional discharge
The firm failed to implement any policies or procedures designed to ensure founder Sam Bouji did not act as an officer of the firm
The vulnerable investors were the parents of the rep’s former fiancé
Twelve reps at a branch in Mississauga, Ont. falsified KYC information in order to obtain investment loans
Proposals reflect trends toward a principles-based approach to sanctioning
Ontario advisor violated securities rules by borrowing funds from several insurance clients
Advisor did not comply with the dealer’s own guidelines for leveraged ETFs
Trading in multiple accounts created a misleading appearance of market activity