fines

Fake rep gets $10,000 fine

A Quebec woman has been fined $10,000 for misrepresenting herself as a Registered Representative.

By Staff |August 2, 2012

1 min read

Sales rep fined for unauthorized online trading

The MFDA approved a settlement hearing in the matter of Ahsan Hanif Ladha, a former mutual fund salesperson at TD Investment Services. He admitted that between June 2009 and June 2010, he engaged in unauthorized online securities trading. As stated in the agreement, in two separate cases Ladha obtained client passwords and personally conducted their […]

By Staff |August 1, 2012

1 min read

Former Raymond James rep fined, disgorged

An IIROC hearing panel found Gary Beck made discretionary trades in a client’s account without approval. From October 2007 to April 2009, he made the trades without the account having been approved and accepted as a discretionary account, contrary to IDA Regulation 1300.4. The hearing panel imposed the following penalty on Beck: (a) A $20,000 […]

By Staff |July 27, 2012

1 min read

Ontario rep fined $20,000 for unauthorized trading

An IIROC hearing panel has accepted a settlement agreement including sanctions between its staff and Michael Reid Ast. Ast admitted to engaging in discretionary trading over two decades—with clients’ consent, but without obtaining the necessary prior written authorization from the clients or his firm. Ast confessed to the following violation: Between 1991 and 2009, he […]

By Staff |July 26, 2012

1 min read