Respondent fined $20,000 and banned for one year by the MFDA for currency trades
Respondent allowed a client to open and trade in an account using someone else’s identity and contact information
Respondent admitted he didn’t act quick enough to prevent elderly client’s son losing more than $52,000
Ban stems from illegally trading and distributing securities of A25 Gold Producers Corp.
Respondent paid $10,000 restitution to victim and is also handed $5,000 fine
Regulator details opportunities that are ‘too good to be true’ and how to guard against becoming a victim