MFDA concludes proceeding against Barry L. Adams
Allegation No. 1: Between February 16, 2007 and April 30, 2007, the Respondent engaged in securities related business that was not carried on for the account of the Member or through the facilities of the Member by recommending and facilitating investments in a real estate investment product, contrary to MFDA Rules 1.1.1 and 2.1.1. Allegation No. 2: Between February 16, 2007 and April 30, 2007, the Respondent engaged in outside business activity that was not disclosed to and approved by the Member by recommending and facilitating the purchase of a real estate investment product, contrary to MFDA Rules 1.2.1(d) and 2.1.1.
On
In the Settlement Agreement with NBSC staff,
Pursuant to section 184(1)(c) of the Act, Mr. Adams shall be barred from trading in any securities, other than those beneficially owned directly by him, for a period of 10 (ten) years; Pursuant to section 184(1)(d) of the Act, any exemptions contained in New Brunswick securities law shall not apply to Mr. Adams for a period of 10 (ten) years; Pursuant to section 186(1) of the Act, Mr. Adams shall pay an administrative penalty in the amount of twenty thousand dollars ($20,000.00).(1)
MFDA staff has reviewed the Reasons for Decision and the penalties imposed by the NBSC against
For further information: For further information: Hugh Corbett, Director, Litigation, (416) 943-4685 or [email protected]
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