A Montreal-based financial adviser has been ordered to make a payment of CA$1.6 million to reimburse the corporate regulator for compensation paid to aggrieved former clients.
The Canadian Superior Court ordered former adviser Carole Morinville to repay L’Autorité des Marchés Financiers (AMF) – the Quebec securities regulator – the sum in repayment for compensation issued by the regulator to former clients of Morinville out of its indemnity fund.
Ms Morinville was found to have operated a Ponzi scheme that victimised at least 32 investors, including Canadian actress Karine Vanasse.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Apr 2018Govt launches new corporate criminal crackdownBy Reporter
- 20 Apr 2018AMP CEO retires immediatelyBy Reporter
- 19 Apr 2018Commission questions compulsory FPA membershipBy Killian Plastow
- 19 Apr 2018CBA admits to fresh FOFA breachesBy Reporter
- 18 Apr 2018Royal commission villains could face jailBy Aleks Vickovich
- 18 Apr 2018CBA accused of ‘misleading’ royal commissionBy Aleks Vickovich and Killian Plastow
- view all