Industry News

IIROC levies $300,000 sanction on advisor

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Roger Carl Schoer fraudulently induced clients and other individuals to invest money which he used for other purposes. In its decision, the panel imposed a penalty on Schoer which includes: • A $200,000 fine; • A permanent bar from registration […]

June 17, 2011

1 min read

Advisor banned for theft…from mother

The discipline committee of Quebec’s Chambre de sécurité financière has issued a permanent ban against an advisor who stole $48,000 from the account of his mother. Jean Alix Balan Junior, who practiced as a mutual fund rep in the greater Montreal area, took out a $50,000 line of credit in his mother’s name without her […]

By Staff |June 17, 2011

1 min read

Due diligence can prevent estate litigation

Poor choices made by financial planners in connecting their clients to wills and estate lawyers can, and often do, result in lengthy and expensive estate litigation. Solicitor negligence is not something that people like to talk about, but it can be a problem, said Markham-based Andrea Kelly, barrister and solicitor, speaking at the CIFPs’ 9th […]

By Vikram Barhat |June 17, 2011

4 min read

Horizons launches new U.S. Equity Income Fund

Horizons Exchange Traded Funds has filed a final prospectus for the Horizons Enhanced U.S. Equity Income Fund, a closed end fund which will be managed by AlphaPro Management Inc. The fund aims to provide investors with capital appreciation and monthly distributions, based on the performance of an equal weighted portfolio of the 50 largest and […]

By Staff |June 17, 2011

1 min read