Imposes 12 months close supervision
IDA seeking comment on proposal
A hearing panel of the Investment Dealers Association of Canada has fined Union Securities Ltd. $25,000 for failing to enforce the use of foreign exchange rates by its employees.In a written decision released on April 8, the panel found that between November 2000 and January 2001 inclusive Union failed to establish internal controls with respect […]
Regulators to share information
Waiver letter discontinued
IDA says money, to be reimbursed to unitholders, is from trailer fees paid to brokerage firms by fund companies
On the 53rd floor of the gleaming Scotia Plaza tower overlooking downtown Toronto, Kevin Whelly is hatching a plan. Little more than a month has passed since he joined Raymond James Ltd. as senior vice president of growth and development — a brand new role for a brand new task — and Whelly is poised […]
Canada’s market regulators get it from both sides: wronged investors accuse them of being soft on corporate crime and the Street complains that they are too tough and too arbitrary. If the punishment records are anything to go on, however, it’s investors who have it right.Investment Executive examined the enforcement records of the provincial regulators […]
But traditional IPOs are also beginning to show signs of life
Ex-Yorkton, Sprott broker fined $150,000