NHFA subsidiary sold unsuitable investments to elderly customers
The Canadian firm is still appealing the decision and fine
Penalties imposed on Phillips include a three year suspension
Sentencing makes it clear that the courts take these matters seriously, says OSC’s Atkinson
Priest and Phillips prohibited from becoming or acting as a director or officer
Oral disclosure of Duic investigation to Rankin’s legal counsel deemed sufficient
McErlean misrepresented investment information to clients about their accounts
Regulator failed to provide reasons for its order
Da Silva and O’Brien each sentenced to 27 months
Firm to pay US$3.3 million to settle charges