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Following a disciplinary hearing held on March 3, 2014, in Edmonton, Alberta, a hearing panel of the Investment Industry Regulatory Organization of Canada imposed the following penalties on Brian Andrew Malley and Christine Marie Malley.

On Brian Andrew Malley, the panel’s imposed:

(a) a permanent ban from registration with IIROC in any capacity;

(b) a fine of $300,000; and

(c) costs of $35,000.

On Christine Marie Malley, the panel’s imposed:

(a) a permanent ban from registration with IIROC in any capacity;

(b) a fine of $250,000; and

(c) costs of $15,000.

At the disciplinary hearing, the panel accepted the facts and allegations in the notice of hearing, as proven. To read the panel’s decision, dated June 25, 2014, click here.

IIROC formally initiated the investigation into the conduct of Brian and Christine Malley in May 2012. The violations occurred when he was a registered representative and she was a branch manager of the Red Deer branch of Assante Capital Management, an IIROC-regulated firm. Brian and Christine Malley are no longer registrants with an IIROC-regulated firm.

Originally published on Advisor.ca

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