In February 2013, IIROC released two decisions relating to BC residents as well as announcing that it withdrew allegations against one BC resident. The MFDA suspended a BC resident for failing to pay the fine and costs within the required time frame. The BCSC released no enforcement case documents in February.
CSA Enforcement Report
Last month, we published the CSA Enforcement Report with our colleagues from across Canada. In this blog post, we are introducing a tool and some information that our BC readers may find interesting.
If you are interested in BCSC enforcement cases over the past year, you can go to the concluded cases database on the CSA Enforcement report website, choose 2012, and search for BC as the province. If you do this, you will find that the BCSC concluded 22 enforcement cases last year. In the same database, you can choose to see particular types of cases from across the country. You can link to the actual decision or settlement for each individual case directly from the concluded cases database.
If you do not want to look through the database, you may find the Case Highlights section of the report interesting. Here you find a discussion of a few cases under each type of misconduct from different jurisdictions across the country. It will give you a flavour for the types of cases all provinces have seen over the past year.
We’ve included a summary of a few of the February 2013 enforcement cases below.
An IIROC Hearing Panel fined Steel $100,000, ordered him to pay costs of almost $8,500, and issued a permanent ban on approval in any capacity. The panel imposed these sanctions after finding that Steel had misappropriated approximately $40,000 from two investment advisors for whom he worked as a registered assistant.
An IIROC Hearing Panel fined Hoang $25,000. In November 2012, the panel panel found that Hoang failed to attend a second interview and give additional information in respect of an investigation being conducted by IIROC.
Access to more cases
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BC Securities Enforcement Roundup – January 2013 In January 2013, the British Columbia Securities Commission (BCSC) issued three notices of hearing, two temporary orders, one liability decision and one sanction decision. During January 2013, the MFDA released one liability decision and one liability and sanction decision relating to BC residents. We’ve included […]
In December 2013, the BC Securities Commission issued two settlements, three notices of hearing, and announced a Supreme Court of Canada decision upholding a commission panel’s decision. The Investment Industry Regulatory Organization of Canada (IIROC) released one settlement in December 2013 relating to a BC resident. The Mutual Fund Dealers Association did not release any […]