Advisor banned after borrowing cash from consumer to purchase property

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The second violence involved a daycare enterprise in Burnaby, British Columbia, of which Liu was the only director. Three shoppers, 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 at the very least $17,435 in direction of the working of the power.

By getting into right into a enterprise association with shoppers, her conduct gave rise to a battle or potential battle of curiosity that she did not speak in confidence 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 surface 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 will not be presently registered within the securities enterprise.

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