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0.000163880694854114 0.000655522779416571 -0.00223697148475906 -0.0036053752867912 -0.000819403474270684 0.00868567682726977 0.0185185185185186 0.0206489675516224
Stock impact report

IIROC orders $100K fine, 2-year ban for rep [Advisor.ca (Canada)]

Royal Bank Of Canada (RY) 
Last royal bank of canada earnings: 2/21 06:00 am Check Earnings Report
US:NYSE Investor Relations: rbc.com/investorrelations/index.html
Company Research Source: Advisor.ca
123RFA regulatory panel has suspended and fined a Calgary-based rep after it found that he engaged in undisclosed personal dealings with an elderly client and misled investigators.Michael Francis O’Brien — who was initially a rep with RBC Dominion Securities Inc. in Calgary, and later with Raymond James Ltd. — has been fined $100,000 by an Investment Industry Regulatory Organization of Canada (IIROC) hearing panel. He was also ordered to pay costs of $20,000, suspended for two years and will be subject to 18 months of close supervision after returning to the industry.The sanctions decision follows a finding that O’Brien violated IIROC rules by borrowing more than $150,000 from a client, an elderly widow, without his firm’s knowledge.According to the panel’s decision, O’Brien admitted the undisclosed personal financial dealings in the disciplinary proceedings, but initially misled investigators from both his firm and IIROC when the account activity was investigated by RBC’s fraud detec Show less Read more
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