A former investment adviser charged with the murder of an Innisfail mother has been kicked out of the industry.
Brian Andrew Malley has been permanently banned from registering with the Investment Industry Regulation Organization of Canada (IIROC), fined $300,000 and ordered to pay $35,000 for investigation costs.
Malley’s wife, Christine Marie Malley, has also been banned from registering with IIROC, fined $250,000 and ordered to pay costs of $15,000.
Brian Malley, who worked in Red Deer for Assante Capital Management Inc., was arrested in May 2012 in connection with the Nov. 25, 2011, death of Vicky Shachtay. RCMP say the 23-year-old disabled mother was killed when a bomb delivered to her home exploded.
IIROC subsequently investigated Malley’s conduct, citing a number of complaints from his clients that he had mishandled their accounts. In March, a hearing panel ruled that Malley had violated a number of IIROC rules. On Thursday, it announced its penalties.
Christine Malley, who also worked for Assante, was investigated by IIROC and found to have breached its rules as well.
Brian Malley’s criminal trial is scheduled to begin on Jan. 26, 2015. He is charged with first-degree murder, causing an explosion likely to cause harm or death, and sending an explosive device.
An $80-million civil lawsuit is also underway.