Regulation

Failed “gatekeeper” fined $30,000

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between IIROC staff and David Charles Parkinson.

By Staff |February 22, 2012

2 min read

Industry

Fired advisor fined $250,000 for failure to comply

A hearing panel of the MFDA’s Central Regional Council has issued its decision and reasons in connection with the disciplinary hearing held in Toronto, Ontario on February 6, 2012 in the matter of Muchoki Fungai Simba. In its decision and reasons, the hearing panel found that the three allegations made against the respondent in the […]

By Staff |February 22, 2012

1 min read

Industry

Group pushes for mandatory SRI question

Concerned that advisors aren’t talking to their clients about socially responsible investing, the Social Investment Organization will push for rules mandating advisors to ask about a client’s interest in SRI.

By Doug Watt |February 21, 2012

3 min read

Industry

“Voice brokers” targeted in Libor probe

So-called "voice brokers" are in the crosshairs of regulators investigating the possible manipulation of the Libor pricing benchmark.

February 17, 2012

1 min read

Inching toward an ABCP resolution

The Ontario Securities Commission and Investment Industry Regulatory Organization of Canada have applied to the Superior Court of Justice of Ontario – Commercial List to confirm that their proposed plan to distribute funds to investors who purchased third-party Asset-Backed Commercial Paper is permitted by an earlier court order. The OSC and IIROC have asked the court to rule that the order dated June 5, 2008 by the Honourable C. Campbell J. does not preclude them from distributing $59.875 million received from the following five investment dealers in settling ABCP enforcement actions: · Canadian Imperial Bank of Commerce/CIBC World Markets Inc. and HSBC Bank of Canada agreed to pay $21.7 million and $5.925 million, respectively, to the OSC. · Scotia Capital Inc., Canaccord Financial Ltd. and Credential Securities Inc. agreed to pay $28.95 million, $3.1 million and $200,000, respectively, to IIROC. The application outlines the OSC’s and IIROC’s proposed plan to distribute the funds to certain eligible investors who purchased ABCP from a settling dealer. The application is scheduled to be heard on March 13, 2012 in Toronto. More information on the proposed distributions will be published by the OSC and IIROC following the court’s decision.

By Staff |February 16, 2012

1 min read

IFIC joins Volcker Rule critics

The Investment Funds Institute of Canada (IFIC) has added its voice to the Canadian chorus of concern over implementation of the so-called “Volcker Rule” in the U.S. under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

By Staff |February 15, 2012

2 min read

IIROC fines Montreal pair $350,000

On January 25th, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between IIROC staff and Konstantine Dariotis and Alfonso Fiumidinisi.

By Staff |February 14, 2012

2 min read

Regulation

Failed “gatekeeper” fined $30,000

Fired advisor fined $250,000 for failure to comply

Group pushes for mandatory SRI question

“Voice brokers” targeted in Libor probe

Barred broker a “Bad Boy” for life

Citigroup pays way out of mortgage probe

Inching toward an ABCP resolution

UBS suspends traders in Libor scandal

IFIC joins Volcker Rule critics

IIROC fines Montreal pair $350,000