A former trader in the Toronto branch of W.D. Latimer Co. Limited has been banned permanently and ordered to pay a fine and costs after a hearing by the Investment Industry Regulatory Organization of Canada (IIROC).
The IIROC order, which came down June 26, said Robert Edward Sole entered orders on IRROC-regulated marketplaces while his access to those markets was suspended. He also engaged in outside business activities without the approval of his employer.
According to IIROC, Sole also failed to co-operate with enforcement staff who were conducting an investigation.
A hearing panel permanently barred Sole and fined him $80,000. The former trader is also required to pay $10,000 in costs.
