(October 8 – 12:30 ET) –
The long-awaited allegations
against the now-disbanded
Fortune Financial Management Inc.
are on the verge of being released
by the Ontario Securities
Commission, the Financial Post
reports.
Settlement discussions with
Fortune founder David Singh and
former top rep Paul Tindall, are
currently ongoing, the story
said.
None of Singh, the OSC, or
Tindall’s lawyer would comment
on the story.
The FP said any allegations,
which have been rumoured to be
in the works for more than a year,
relate to know-your-client
requirements, suitability and
fiduciary duty.
Fortune sold the assets of its
securities dealer and mutual
fund dealer subsidiaries to
Dundee Bancorp Inc. this
summer, along with Singh’s fund
management firm, Infinity
Investment Counsel Inc. While
the firms themselves surrendered
their registrations.
IE Staff
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