BlackBerryOS.com - Canadian Investor-Critic Found to Have Broken IIROC Rules
  • Canadian Investor-Critic Found to Have Broken IIROC Rules



    The Investment Industry Regulatory Organization of Canada (IIROC) found that President and CEO of Jaguar Financial Securities and Chief Executive of Northern Securities Inc, Victor Alboini, was have been engaged in "improper and risky" trading, according to Reuters.

    The regulating organization commented in their ruling released late yesterday that in the time period from August to November 2008, Alboini "engaged in a trading practice which improperly obtained access to credit" for his client, Jaguar Financial Corp. They further found that Fred Vane, chief compliance officer for Northern Securities Inc, did not succeed in supervising Alboini's trading activities adequately.

    Seemingly this was not the first time Aiboini has been in trouble. The report also informed that from 2006 to 2010, both Northern Securities Executives faiked to "correct deficiencies in three business conduct compliance reviews."

    A third officer, Douglas Chornoboy, who chief financial officer at the time, filed inaccurate monthly financial reports for Northern Securities. The IIROC further commented that there were serious omission in the reports, including the misinformation of the firm's risk adjusted capital, not factoring adjustments for leasehold improvement costs.

    The former securities lawyer, has made his name known recently due to his abrasive criticisms of RIM of which his company Jaguar Financial is a shareholder. Most notably he was one of the outspoken investors last year calling for the then co-CEO's Mike and Jim to be replaced, and pressured the board to consider RIM looking into selling or dividing the company.


    The investigation was initiated by the IIROC in April, 2009. Leading up to a hearing which took place from May 7 to June 1, 2012.



    Source: Routers


    comments powered by Disqus
  • Sponsored Ad

  • Recent Comments

  • Most Commented

    The most commented articles on BlackBerryOS over the past 24 hours.
  • Recent Forum Posts

    smartaps

    Workout Planner

    Workout Planner is a great 10 to 30 minute daily workout routine for men and women that steps you through some of the best exercises you can do in the

    smartaps 07-31-2014, 10:27 PM Go to last post
    smartaps

    600+ Business Ringtones

    Business Ringtones Pro is a new business app that gives you business edition ringtones. These are fully professional ringtones packed in what is the best

    smartaps 07-31-2014, 10:25 PM Go to last post
    smartaps

    Fitness Pro - 600+ preinstalled exercises with description and animations

    Create a personal workout to get you started right away!
    FEATURES:
    - 600+ preinstalled exercises with description and animations
    -

    smartaps 07-31-2014, 03:41 AM Go to last post
    smartaps

    Sex Ringtones

    This is a collection of 500+ sex ringtones made to make your phone unique and more interesting than any other.
    Personalize your phone's sounds with

    smartaps 07-31-2014, 03:34 AM Go to last post
    Dead Memory

    Dead Memory - Sky is falling (Musicvideo)

    hi everyone, after your awesome response to our first musicvideo "white rabbit" ,we would like to show you our new one "sky is falling"

    Dead Memory 07-28-2014, 05:59 AM Go to last post
  • Sponsored Ad