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
The former advisor also falsified multiple documents in order to process the trades so that he could meet his firm’s sales targets and receive higher compensation
At least 60,000 clients were overcharged approximately US$18 million in unauthorized fees, the regulator’s order states
The advisor, who has also fined a minimum of $75,000, did not “deal fairly, honestly and in good faith with [his client],” who was also a childhood friend
Sherry Cheng-Hui Kao borrowed money from clients to speculate in real estate and misled both the clients, and her employer, the ICBC found
Jason Perry Boldt borrowed more than $1 million for clients for an unauthorized outside business activity about which he did not inform his firm