The Innisfail financial advisor charged with first-degree murder in the death of a young mother is under investigation by Canada’s securities regulator.
David Thomas, director of public affairs for the Investment Industry Regulatory Organization of Canada, confirmed Brian Andrew Malley, 55, is being investigated.
The IIROC oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
Thomas, of Toronto, would not comment further on the specific details of the investigation including when it was launched. Malley worked at an Assante Wealth Management office in Red Deer.
IIROC will not comment on any investigations until the issuing of a notice to the public regarding the date and location of a hearing. The hearings are generally open to the public.
Offenders can face fines up to a maximum of $1 million per contravention or an amount equal to three times the profit made or loss avoided by reason of the contravention.
RCMP confirmed at a news conference on Monday that Malley, a former police officer in Edmonton, was arrested and also charged with causing an explosion likely to cause serious harm or death and sending an explosive device.
The charges stem from the Nov. 25 incident in Innisfail when a package left on the steps of Victoria Shachtay’s home exploded when she brought it into her fourplex. Shachtay, 23, who had been in wheelchair since a 2004 car accident, was killed. Her daughter was not at home and her live-in caregiver was shaken but uninjured.
Police would not comment whether there was a financial motive behind the incident. They confirmed, however, Malley was Shachtay’s financial advisor.
Malley made a brief court appearance by closed-circuit television where charges were formally read in Red Deer provincial court on Monday. His next court appearance is on July 9 for plea or a bail hearing.
crhyno@www.reddeeradvocate.com