Fraud Friday: Fines of the week

Plenty of bad behaviour has dashed our hopes of cancelling “Fraud Friday” this week. Here’s a rundown of our top stories:

MFDA rep suspended for falsifying client signatures

A settlement hearing in the matter of Hugh Blair Smilestone was recently held before a panel of the MFDA’s Atlantic Regional Council.

Online trading company fined $65,000

On December 19, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between IIROC staff and optionsXpress Canada Corp.

Regulator fines two men for illegal loan agreements

A British Columbia Securities Commission panel has fined and permanently banned two directors of a B.C. company who breached securities laws by selling securities without being registered.

Non-registered rep faces sanctions, disgorgement: OSC

On November 29, 2012, the OSC held a hearing to consider whether it was in the public interest to make a sanctions order against Mohinder Ahluwalia.

Quebec company fined $33,000 for tax evasion

The owner of a Quebec-based company, called 9136-3721 Québec Inc., pleaded guilty to tax evasion charges.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.