MSC finds no error with panel's findings against former fund rep
Failing to reveal clients' involvement in bowling businesses ends in sanctions
Reps fined, banned for personal financial dealings with clients
Exec failed to disclose dealings, dealer ignored red flags, SRO alleged
Rep lost money alongside clients in unapproved outside investment
Rep circumvented registration limits to trade wider range of securities
Rep had clients invest in, failed to disclose, his side hustles
Acts in furtherance of a trade violated securities rules
Court rules no evidence of common breach, given differences among investors
Much of the industry's involvement may be outside the SRO's perimeter