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by Mike Caswell

The Investment Industry Regulatory Organization of Canada has permanently banned former Kelowna investment adviser Ken Gottfred, 53, over his mishandling of a retired couple's account. The regulator has found that he committed unauthorized discretionary trading over an extended period and made unsuitable margin recommendations. The "intentional character" of his conduct requires strong deterrence, the regulator says.

IIROC published the sanctions on Tuesday, June 28, after holding a hearing before a three-member panel in April, 2016. Mr. Gottfred did not attend the hearing or respond to the case. In addition to the permanent ban, the panel ordered him to pay $50,000 and to pay IIROC's costs of $5,000.

KELOWNA

Ken Gottfred

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