On Jan. 7, C-IIROC fined Worldsource C$200k for fee conflict. Alleged Violations From 2010-17, firm failed to establish and maintain system of internal controls. or supervision that is reasonably designed to achieve compliance of IIROC rules. To deal fairly with clients on fees, contrary to Dealer Member Rules 38.1, 2500. Failed to take steps to identify or address…
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FINRA Fine Conflict of Interest
On Sep. 17, FINRA fined Cetera re employee outside business. Settlement with Cetera Financial, in which firm was censured and fined $200k. Alleged Violations Firm failed to enforce system to monitor employee outside business activities. A representative disclosed power-of-attorney of two senior customer accounts. However, the firm did not review, evaluate or respond to the…
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