Regulator fines former Regina advisor $90,000par The IJ Staff | July 16 2018 09:45AM
The Investment Industry Regulatory Organization of Canada (IIROC) announced July 13 that it has accepted a settlement agreement with Darryl Joseph Yasinowski, a former advisor who conducted business in Regina. The agreement also includes a six-month suspension and a fine of $90,000.
IIROC says, “Yasinowski admitted that he failed to know five clients and made unsuitable recommendations pursuing an aggressive investment strategy that involved many high-risk, speculative securities. The clients, which included a senior, were vulnerable and had limited investment knowledge. They sustained significant losses, with two clients losing more than half of their portfolios.”
As part of the agreement, Yasinowski will be under close supervision for 18 months upon return to the industry and he has also agreed to pay costs in the amount of $10,000, says the regulator.