Desjardins Financial Security Services admitted to the supervisory lapses involving former rep Conrad Eagan
The former rep reached a settlement with the regulator, admitting to violating several investment industry rules
The SRO brought a record 111 proceedings against both advisors and dealers and also levied $21.1 million in fines last year
New MFDA report also finds that a switch to direct-pay arrangements will “have a greater impact on those smaller advisors who are more reliant on DSCs”
Paul Wemple has been banned from working with MFDA firms
Although industry participants are generally onside with enhanced CE standards for advisors, there are some big concerns
The recommendations are also intended to make the proposal more consistent with the requirements set by other regulators
2016 client research project aims to explore what client segment would be most affected by the potential elimination of embedded commissions
There has been an increase in notices of hearings and bulk track cases because firms’ compliance departments have improved their detection and reporting of non-compliance
The firm will pay a fine of $130,000 and costs of $20,000 after admitting to various regulatory failings