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Ex-advisor fined $100,000

first_imgFiona Collie Share this article and your comments with peers on social media Related news As well, an IIROC hearing panel found that between January 2008 and May 2008, Chang misled the client regarding the number of USSU shares held in the client’s account. During this time period, in addition to monthly statements, Chang sent the client a weekly update on his holdings in the form of a spreadsheet. By examining over 500 emails between Chang and the client, IIROC found the spreadsheet updates were often inaccurate and did not properly represent the client’s holdings. In addition to the fine, Chang is permanently barred from IIROC approval and must pay $7,500 in costs. He is no longer a registrant with an IIROC-regulated firm. Mouth mechanic turned market manipulator BFI investors plead for firm’s salecenter_img Lawrence Chang, a former advisor with Canaccord Genuity Corp. in Vancouver, must pay $100,000 in fines to the Investment Industry Regulatory Organization of Canada (IIROC) for purchasing securities without a client’s knowledge and for misrepresenting the number of shares held in an account. Between December 31, 2007 and March 28, 2008, Chang purchased $498,160 in USA Superior Energy Holdings Inc. (USSU) for a client, according to IIROC documents, without the individual’s knowledge or consent. PwC alleges deleted emails, unusual transactions in Bridging Finance case Keywords EnforcementCompanies Investment Industry Regulatory Organization of Canada Facebook LinkedIn Twitterlast_img read more

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