An Approved person of Global Securities Corporation has been imposed a $ 100,000 fine for having failed to properly perform his role as gatekeeper to the capital markets, having facilitated the opening of investment accounts for as many as 35 non-Canadian residents, some of whom had criminal or regulatory disciplinary histories, without making diligent inquiries to ensure that each client’s reason for opening an account was legitimate and intended for legitimate investment purposes.

Furthermore, he facilitated certain transactional activity in the accounts previously noted without making diligent inquiries to ensure the legitimacy of the transactions in circumstances which should have called the transactional activity into question because it was peculiar, suspicious or appeared to be consistent with market manipulation, deception or other improper market related activity.

He also effected transactions in a client’s account based on instructions he accepted from an individual who was not authorized to trade in the account.

An Approved Person of Dundee Securities Corporation has been imposed a $ 45,000 fine for having :

• facilitated and solicited participation in the sales of shares of a public company which transactions were conducted off the books and records of Dundee;
• advised and assisted clients with respect to the purchase of shares of the public company when his registration was restricted to the sale of mutual funds;
• entered into personal financial dealings with clients;
• attempted to conceal information during the course of an IDA investigation and misled IDA staff with respect to facts required for purposes of its investigation, and attempted to frustrate the IDA’s investigation;
• maintained an account at another Member firm without the knowledge or consent of Dundee. (3614)

An Approved Person of Caldwell Securities Ltd. has been imposed a $55,000 fine for having :

• conducted unauthorized trading in two client accounts;
• issued false and misleading account documents which misrepresented the holdings in the accounts of the two clients;
• forged the signatures of the two clients;
• filed false hold mail authorizations without the knowledge or consent of the two clients. (3611)

A Branch Manager Union Securities Ltd. has been imposed a $ 15,000 fine for :

• having failed to adequately supervise the account management activities of two client investment accounts. The two client accounts were the subject of high-risk, equity and option trading, which was not suitable for the clients given their personal and financial circumstances, and which resulted in substantial financial loss. <
• having failed to maintain adequate supervision records and failing to establish appropriate procedures and controls for effective supervision of the registrants of the Union Securities Ltd. office. (3609)

An Approved Person of RBC Dominion Securities Inc. has been imposed a $20,000 fine for :

• having engaged in business conduct or practice that was unbecoming or detrimental to the public interest in that he unknowingly facilitated a manipulation by accepting trade orders from one of his clients for shares of a certain company.
• having failed to exercise due diligence to learn and remain informed of the essential facts to a client and their respective trade orders in that company. (3605)

A Registered Representative of Argosy Securities Inc. has been imposed a $ 40,000 fine for having conducted his business consistent with the registration of a Portfolio Manager without being registered as such. (3602)

A Registered Representative of Argosy Securities Inc. has been imposed a $ 40,000 fine for having :

• aconducted discretionary trades in a client account without the account being specifically approved and accepted in writing as a discretionary account;
• failed to use due diligence to ensure that trades conducted in the same client account were suitable based on factors such as the clients’ financial situation, investment knowledge, investment objectives and risk tolerance. (3599)

A Registered Representative of CIBC Investor Services Inc. has been imposed a $ 50,000 fine for his misconduct. He admitted that he :

• caused to be transferred, without authorization, certain funds from the account
  of one client to cover the losses in another client’s account;
• provided inaccurate, false or misleading information to the IDA regarding the circumstances of his termination of employment. (3596)

Canaccord Capital Corporation and two co-Branch Managers at Canaccord has been imposed altogether a total fine of $ 750,000 for having :

• failed to have proper systems, procedures and personnel in place to ensure that
  effective supervision of the activities at one of its branch was achieved;
• failed to properly supervise the activities of one of its former Registered Representative. (3589)

RBC Dominion Securities had a fine of 80 000$ because they didn't maintain a regularized capital according to the risk that has higher than zero.

An Approved Person of Scotia Capital Inc. (formerly ScotiaMcLeod Inc.) has been imposed a $ 60,000 fine for that he :An Approved Person of Scotia Capital Inc. (formerly ScotiaMcLeod Inc.) has been imposed a $ 60,000 fine for that he :

• purchased real estate with a client without the knowledge, consent or authorization of his Member firm;
• loaned funds to a client without the knowledge, consent or authorization of his Member firm;
• commingled his personal funds with those of a client and together purchased not pro-eligible securities in his client’s investment account;
• loaned funds to a client without the knowledge, consent or authorization of his Member firm;
• sold real estate to a client without the knowledge, consent or authorization of his Member firm. (3579)

An Approved Person of BMO Nesbitt Burns Inc. and Canaccord Capital Corporation has been imposed a $ 20,000 fine for :

• having effected discretionary transactions in two joint accounts without the accounts having been approved and designated as discretionary accounts by
  his Member firm;
• having attempted to personally settle a client complaint without the knowledge or consent of his Member firm. (3578)

Financière Partenaire Cartier ltée and one of its representative are imposed to pay to some retired customers a fine of $ 289 703 because of the incompetent and incorrect management of their retirement pension.

A Manager of Scotia Capital Inc. has been imposed a $ 30,000 fine for having :

• failed to use due diligence in his supervisory capacity to learn the essential facts relative to every client and every account accepted when approving new options accounts for seven clients, as well as changes in their investment objectives and risk tolerances;
• failed to exercise adequate supervision of transactions effected by a representative under his supervision in the options accounts of eight clients without ensuring the appropriateness of the trades, and had authorized modifications to the options strategies used in the accounts;
• failed to question or verify that the representative had met the firm’s requirements for prior authorizations to execute trade strategies, as applicable, prior to the registration of large numbers of contracts. (3565)

A Registered Representative of Scotia Capital Inc. has been imposed a $35,000 fine for his misconduct. He admitted having :

• failed to use due diligence to learn and remain informed of the essential facts relative to every client and every account accepted, when opening accounts for seven clients;
• recommended and implemented speculative spreading strategies which were unsuitable for clients;
• failed on two occasions to ensure that transactions that were made for six clients were really in the interest of the clients, causing each of them additional losses;
• effected discretionary trades in the accounts of seven clients;
• listed the same speculative investment goals and same risk tolerance for seven clients without regard for the true investor profile of each;
• effected unauthorized trades in the accounts of two clients;
• failed to obtain the prior approval of the designated officers, in accordance with the Member firm’s compliance policies, before carrying out options trades involving more than 99 contracts in the accounts of two clients;
• on a numerous occasions, produced his own reports and submitted them to several clients to illustrate the results of the options strategies effected in their accounts without including the open positions, thus providing an incomplete representation of the transactions that had been made as to the results achieved by these strategies;
• failed to obtain the prior authorization of a designated officer before producing the unofficial reports for his clients. (3564)

Un représentant de Marchés mondiaux CIBC inc. s’est vu imposer une amende de 10 000$ après avoir admis sa conduite inconvenante et préjudiciable à l’intérêt du public du fait qu’il ait sollicité et effectué des placements privés hors livre à l’insu et sans le consentement de son employeur. (3563)

Nesbitt Burns has been ordered to pay one of his Montréal customers $ 2 814 531,00, for the losses he suffered of because of the incompetence and lack of diligence of his staff in the execution of the contract that has been entrusted to this bank.

CIBC World Markets is ordered to pay to a Montréal retired couple and to their personal management company some damages of $ 1 553 353, costs of $ 94 560 and punitive damages of $ 1 500 000 because of the fraud that has been committed by their representative and because of the abusive, oppressive and contemptuous attitude of the bank while treating the demand of their customers.

Un représentant de  Merrill Lynch Canada inc. se voit imposer une amende de 15 000$ du fait qu’il avait participé au placement de titres d’une société fermée, alors que celle-ci n’était pas un émetteur assujetti. De plus, les opérations effectuées l’ont été sans inscription dans les livres de sa société.  (3549)

An Approved Person of Octagon Capital Corporation has been condemned to pay a $ 300,000 fine for his misconduct in that :

• he accepted orders to trade from an individual he knew or should have known to have had a history of securities violations and/or association with organized crime;
• concealed from Octagon the fact that he was taking trading instructions from persons not authorized in writing and that the true identity of beneficial owners of accounts was different than as identified in account documentation;
• accepted trading instructions from persons who were not the owners of the accounts and were not authorized to give instructions. (3558)
  

Une représentante de Merrill Lynch Canada inc. et de RBC Dominion valeurs mobilières inc. s’est vu imposer une amende de 5 000$ pour :

• s’être comportée de façon négligente et s’être placée en conflit d’intérêts en permettant à une cliente de consentir une somme d’argent à un représentant inscrit chez un autre courtier, sans qu’aucune formalité ne soit alors accomplie;
• s’être comportée de façon insouciante et complaisante en permettant que son compte bancaire personnel soit utilisé pour des opérations financières d’apparence douteuse, sans s’assurer des fins licites de ces opérations et sans vérifier la provenance et la destination des fonds échangés ou encaissés par l’entremise de son compte;
• s’être placée en conflit d’intérêts en obtenant une somme d’argent d’une cliente aux fins d’un placement hors livre qui devait être effectué par un autre représentant inscrit;
• avoir fourni des informations inexactes à un enquêteur de l’ACCOVAM dans le cadre d’un interrogatoire visant à déterminer si elle avait déjà fait l’objet de plaintes de clients. (3548)

MGI Securities Inc. and its President, CEO and Ultimate Designated Person have been each imposed a $ 250,000 and a $ 150,000 fine for their misconduct. Both have admitted that they failed to establish and maintain procedures and controls to effectively supervise trading by clients who were insiders of public issuers or were in control positions of public issuers. (3545)

An Approved Person of TD Securities Inc. has been imposed a $ 63,000 fine for his misconduct. He admitted that :

• he conducted his business consistent with the registration of a Portfolio Manager without being registered as such;
• he engaged in discretionary trading in the accounts of six clients;
• he attempted to correct a trading error in a client’s account without first informing the Member firm;
• he failed to use due diligence to ensure that recommendations made for a client were appropriate and in keeping with their investment objectives. (3537)

Union Securities Ltd. has been imposed a $ 1,000,000 fine for :

• having failed to develop and implement compliance systems to the required standards of the IDA;
• having failed to develop and implement adequate compliance systems to ensure effective supervision of activity at the firm to the required standards of the IDA, resulting in the financial losses of many clients. (3531)

Valeurs mobilières GRS inc. s’est vu imposer une amende de 40 000$ pour ne pas avoir maintenu un capital régularisé en fonction du risque supérieur à zéro. (3530)

An Approved Person of National Bank Financial Inc. has been imposed a $ 22,500 fine for having :

• engaged, on four occasions, in conduct unbecoming, by participating in, facilitating and/or soliciting participation in distributions of three corporations to 52 clients. The transactions were conducted in contravention of the firm’s policies ;
• engaged in personal financial dealings with two clients by participating, facilitating and/or soliciting trades in securities to the benefit of the clients without the consent of her firm and was in breach of the firm’s policies. (3528)

An Approved Person employed by CFG Canada Inc. and Benson-Quinn GMS Inc. has been imposed a $ 30,000 fine for having :

A Registered Representative and Registered Options Representative of Global Securities Corporation has been condemned to pay a $ 50,000 fine for having :

• failed to use due diligence to ensure that the recommendations he made and the transactions he placed for the account of a client were appropriate for the client and in keeping with the client’s investment objectives;
• effected discretionary transactions in the account of a client without the client’s written authorization and without the account having been designated and approved by Global as a discretionary account. (3518)
  

Résolution Capital inc. (RCI), son pdg et son chef de la conformité de l’époque ont été condamnés  à une amende de 51 729,83$ pour avoir enfreint les dispositions suivantes :

En ce qui concerne les deux représentants, il a été jugé qu’ils ont tous deux fait défaut d’exercer leurs fonctions d’une manière prudente et raisonnable.(3514)

An Approved Person of CIBC World Markets Inc. has been condemned to pay a $ 1,300,000 fine for :

• having fraudulently misappropriating over $800,000 from two client investment accounts;
• having refused and/or failed to attend and give information in respect of an investigation being conducted by the IDA’s Enforcement Department. (3513)

Approved Persons at Rampart Securities Inc. have been each condemned to pay $ 325,000, $ 275,000 and $ 25,000 in fine for their misconduct.

• They have engaged in business conduct unbecoming or detrimental to the public interest in that they participated in a scheme in which the shares of a certain company were purchased and sold at contrived prices for the purposes of unduly benefiting one Rampart client to the detriment of other clients at Rampart. (3504)

An Approved Person of Assante Capital Management Ltd. has been imposes a $ 275,000 fine for having :