The settlement stems from allegations that the firm failed to properly supervise former portfolio manager Krishna Sammy
Jeremy Nicholas Drew Austin was taken to task for unsuitable investment recommendations and unauthorized trading
Neil Andrew McDonald of Calgary has been charged with various alleged breaches of the Criminal Code
Richard Lian and Enna Keller raised US$3.2 million from investors by selling securities in a company subject to a cease-trade order
The firm also admits to wrongdoing related to compliance failures surrounding the sale of risky inverse ETFs to retail clients
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 the rep
Kurt Haller, who admitted to churning and making unsuitable recommendations to an elderly client, was also fined $109,500
The FCA’s and PRA’s changes are designed to enhance transparency for firms and individuals under investigation
The SRO will be able to collect monetary sanctions from securities violators through the province’s Supreme Court without seeking approval in each case
The OSC had suspended Liyaun Qi’s registration as an ultimate designated person and as a dealing representative permanently last year