IIROC fines former advisor
The Investment Industry Regulatory Organization of Canada (IIROC) has announced that Philip Winer has been fined $15,000 and banned from applying for re-registration with IIROC for a period of twelve months.
The regulator says Winer admitted that he “failed to ensure certain transactions in client accounts were within the bounds of good business practice. He also engaged in discretionary trading and altered client documents.”
As part of a settlement agreement with IIROC, in addition to the fine Winer has agreed to pay disgorgement of net commission in the amount of $2,000 and costs of $1,000.
To learn more, click here to consult the settlement agreement.