fines

Former Investia rep fined $150,000 for outside activities

A disciplinary hearing in the matter of Punch Bun Chiu Lui, a mutual fund salesperson with Investia Financial Services, was held yesterday before a hearing panel of the MFDA’s Central Regional Council. The panel found Chiu Lui guilty of allegations set out in a notice of hearing dated April 12, 2012. They were: Allegation #1: […]

By Staff |July 13, 2012

2 min read

Ex-MGI Financial rep fined $150,000

A disciplinary hearing in the matter of Jose Luis Bautista, a mutual fund salesperson with MGI Financial Inc., was held yesterday before a three-person hearing panel of the MFDA’s Central Regional Council. It found Bautista guilty of the allegations set out in a notice of hearing dated January 23, 2012. They were: Allegation #1: Between […]

By Staff |July 13, 2012

1 min read

Investment firm fined $40,000

On June 18, 2012, an IIROC hearing panel accepted a settlement agreement between the IIROC staff and Portfolio Strategies Securities, a Toronto-based investment dealer. Portfolio Strategies failed to designate a supervisor qualified to oversee options trading at the firm from December 2009 to November 2010. It also didn’t supervise the activities of an agent and […]

By Staff |July 12, 2012

1 min read

Quebec brothers face 19 charges: AMF

The AMF, the Quebec financial regulatory body, has launched a penal proceeding in the district of Saint-Maurice. It’s filed 19 charges against Tuteur Modulaire J. C. Inc. and its two shareholders and officers, Jocelyn and Claude Lapierre. The Lapierre brothers—who claimed to be creating a structure for growing plants—allegedly approached investors who gave them money […]

By Staff |July 11, 2012

1 min read