Advisor banned after borrowing cash from shopper to purchase property

The second violence involved a daycare enterprise in Burnaby, British Columbia, of which Liu was the only director. Three purchasers, whose accounts have been serviced by Liu, had a 51% shareholder curiosity, a 29% curiosity, and a ten% curiosity respectively. Between the three, they contributed greater than $155,000 to the daycare enterprise. Liu herself put in a minimum of $17,435 in the direction of the working of the ability.

By coming into right into a enterprise association with purchasers, her conduct gave rise to a battle or potential battle of curiosity that she did not open up to her agency.

As well as, Liu did not disclose that she acquired rental earnings from two properties. She additionally accomplished an annual attestation that falsely acknowledged she had sought and obtained approval for the skin actions defined.

Liu should additionally pay prices of $5,000. She is prohibited from conducting securities associated enterprise for, or in affiliation with, any New SRO member agency. She isn’t at the moment registered within the securities enterprise.

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