British regulator says firms failed to ensure that advice given to customers was suitable
Many advisors are failing to appropriately document sales activities
MFDA permanently bans Dennis Villarin
Suitability issues are frequently questioned
Advisors must inform their clients about the risks of borrowing
New guidance reminds advisors about their suitability obligations
Unsuitable investments, undisclosed personal dealings lead to $40,000 fine
Separate hearing to determine penalty
BCSC panel rules out suspension for Victoria broker Carolann Steinhoff
The regulator’s goal is to enhance overall compliance at firms that don’t belong to a self-regulatory organization