Industry

Broker fined for borrowing client money

On April 6 2010, Gregory M. Viechnicki, a general securities representative at BrokersXpress borrowed $10,000 from a public customer of the firm. Although he subsequently paid back the $10,000 with interest, he violated the NASD Conduct Rule 2370: Borrowing from or Lending to Customers and the FINRA Rule 2010: Standards of Commercial Honor and Principles […]

By Staff |July 20, 2012

1 min read

Industry

3 B.C. men illegally traded securities: BCSC

A British Columbia Securities Commission panel has found three B.C. men, along with a parking technology company, illegally distributed securities. They raised approximately $3.5 million from investors who didn’t qualify for exemptions from securities laws. Read: 3 core principles of CRM The panel found Photo Violation Technologies (PVT), Frederick Lawrence Marlatt, Michael Wallace Minor, and […]

By Staff |July 20, 2012

2 min read

Industry

Former Wellington West rep fined $120,000

In a decision on October 6, 2011, an IIROC hearing panel found Carolann Steinhoff, former rep at Wellington West Capital, acted contrary to IIROC rules. She made discretionary purchases in a client’s account, practiced unsuitable use of margin and unsuitable investments for clients. When her firm’s compliance department questioned the purchases, Steinhoff told them the […]

By Staff |July 20, 2012

2 min read