{"id":287364,"date":"2012-07-09T14:15:00","date_gmt":"2012-07-09T19:15:00","guid":{"rendered":"https:\/\/www.investmentexecutive.com\/uncategorized\/wellington-west-fined-60000\/"},"modified":"2012-07-09T14:15:00","modified_gmt":"2012-07-09T19:15:00","slug":"wellington-west-fined-60000","status":"publish","type":"post","link":"https:\/\/www.investmentexecutive.com\/news\/from-the-regulators\/wellington-west-fined-60000\/","title":{"rendered":"Wellington West fined $60,000"},"content":{"rendered":"<p> The Investment Industry Regulatory Organization of Canada (IIROC) has fined Wellington West Capital Inc. (now National Bank Financial Inc.) $60,000 for its failings in the sale of shares of Opti Canada Inc. to clients.<\/p>\n<p> On June 25, an IIROC hearing panel accepted a settlement agreement between IIROC staff and Wellington.<\/p>\n<p> The company admitted in March 2006 it failed to properly process and price the sale of Opti shares to clients, and failed to make all reasonable inquiries into a registered representative&#8217;s conduct in relation to the purchase of the Opti shares and the subsequent allocation of such shares to clients.<\/p>\n<p> As penalty, Wellington agreed to pay a $60,000 fine and $5,000 in costs.<\/p>\n<p> IIROC formally initiated the investigation into Wellington&#8217;s conduct in November 2010.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dealer failed to failed to properly process and price the sale of Opti Canada shares<\/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\/287364"}],"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=287364"}],"version-history":[{"count":0,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/287364\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=287364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=287364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=287364"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=287364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}