Regulatory

IIROC bans, fines Marcel Anil Rada

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement, with sanctions that include a permanent ban on registration, between IIROC staff and Marcel Anil Rada. In the agreement, Rada admitted he violated IIROC rules through his participation in various off-book transactions without the knowledge or consent of his […]

By Staff |May 2, 2011

2 min read

MFDA settles with Laurier Capital Planning

A settlement hearing in the matter of Laurier Capital Planning Inc. was held in Calgary, Alberta before a hearing panel of the MFDA’s Prairie Regional Council. After hearing submissions from counsel, the hearing panel accepted the settlement agreement between MFDA staff and the respondent, as a consequence of which the respondent has paid a fine […]

By Staff |April 29, 2011

1 min read

Canadian anti-money laundering laws need update

In May, the B.C. Supreme Court heard the Finance Department’s challenge to the decade-old ruling on the reach of anti-money laundering legislation in Canada, and industry execs predicted the outcome would affect advisors. The original version of the Proceeds of Crime (Money Laundering) Act, which gave birth to FINTRAC, was adopted in July 2000. Following […]

By Dean DiSpalatro |April 28, 2011

5 min read

IIROC fines, bans Michael Thomas Jones

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed a penalty on Michael Thomas Jones which includes a permanent ban from registration in any capacity with an IIROC-regulated firm. The panel’s decision, based on an agreed statement of facts and violations, found Mr. Jones was liable of misappropriating funds from […]

By Staff |April 28, 2011

1 min read