Will Rod Blake be next?Post says TSX's RS bans Canaccord trader Tolpinrud
2004-01-19 07:55 ET - In the News
The Financial Post reports in its Saturday edition that Market Regulation Services has banned former Canaccord Capital stock trader Kai Tolpinrud from the Canadian equity markets. The unbylined item says Mr. Tolpinrud will also pay a fine of $110,000 plus $21,500 in regulatory expenses under the terms of a settlement agreement that was approved at a Vancouver hearing Friday. The ban and the penalties are the highest handed out since the regulatory body was formed in 2002. Mr. Tolpinrud admitted that between March, 2001, and March, 2002, he engaged in front-running, conflict of interest, taking advantage of client orders, making a practice of trading opposite his clients and improper client-principal trading.