Firms sanctioned for failing to protect records from alteration
The firm failed to report to the MFDA suspected prohibited trading activities of one advisor and inadequately supervised the investment recommendations of another advisor
Alberta’s new nine-person Joint Serious Offences Team is modelled on the Ontario Securities Commission’s JSOT and focus on serious frauds
The advisor, Gilles Robert Latour, was also banned permanently for soliciting and failing to repay loans from senior clients
VALIC Financial Advisors was fined US$1.75 million for giving its registered reps a financial incentive to recommend proprietary products
The regulator considers Nelson Bradbury “a continuing danger to the investing public” because of the infractions he has committed during his lifetime
The regulator filed 68 enforcement cases and achieved more than US$1 billion in monetary sanctions ordered
The firm admitted to shortcomings in its oversight of several advisors after they ran into regulatory trouble of their own
Yu Qiong (Kevin) Li, who was formerly with TD Watherhouse Canada, was also banned permanently and ordered to pay costs of $15,000
The regulator dismissed Krishna Sammy’s application after failing to meet the new deadline of Oct. 15