Financial Post | Business

Toronto-based commodities broker Barret Capital Management Inc. has agreed to pay a total of $225,000 in penalties and costs as part of a settlement with regulators.

Under the agreement, Barret’s membership in the Investment Industry Regulatory Organization of Canada is suspended while company owners Jamie and Idan Cohen are banned from registering with IIROC for the next 20 years.

In addition, the Cohen brothers and Barret will pay total fines of $100,000 and costs of $125,000.

The settlement comes about a month after IIROC staff accused the company and its top executives of a litany of wrongdoing, including taking client money and issuing false account statements.

View original post 147 more words