The Investment Industry Regulatory Organization of Canada (IIROC) has sanctioned a former Raymond James Ltd. advisor for unauthorized discretionary trades in a client’s account.<\/p>\n
Following a disciplinary hearing held on June 27, an IIROC panel found that from October 2007 to April 2009, Gary Beck effected discretionary trades in a client’s account, without the account being designated as such.<\/p>\n
In its decision dated, July 17, the panel imposed the following penalty on Beck:<\/p>\n
Beck is also required to pay $15,000 in costs.<\/p>\n
IIROC formally initiated the investigation into Beck’s conduct in December 2009. The alleged violation occurred when he was a registered representative with the Orangeville, Ont. branch of Raymond James. Beck is no longer a registrant with an IIROC-regulated firm.<\/p>\n","protected":false},"excerpt":{"rendered":"
IIROC panel imposes $20,000 fine<\/p>\n","protected":false},"author":38954,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2312,2324],"tags":[2443],"yst_prominent_words":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/286481"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/38954"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=286481"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/286481\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=286481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=286481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=286481"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=286481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}