VANCOUVER, Feb. 28, 2013 /CNW/ - Following a disciplinary hearing held
on February 5, 2013, a Hearing Panel of the Investment Industry
Regulatory Organization of Canada (IIROC), found that Jordan Rocco
Steel misappropriated approximately $40,000 from two investment
advisors for whom he worked as a registered assistant.
The Hearing Panel assessed the following penalties against Mr. Steel:
(a) A permanent ban on approval in any capacity; and
(b) A fine of $100,000.
The Hearing Panel also ordered Mr. Steel to pay costs in the amount of
The panel's decision dated February 5, 2013 is available at
Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.
IIROC formally initiated the investigation into Mr. Steel's conduct in
December 2011. The alleged violations occurred when he was a Registered
Representative with the Vancouver branch of Canaccord Genuity Corp., an
IIROC-regulated firm. Mr. Steel is no longer a registrant with an
* * *
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services Inc.,
IIROC sets high quality regulatory and investment industry standards,
protects investors and strengthens market integrity while maintaining
efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian equity marketplaces.
IIROC investigates possible misconduct by its member firms and/or
individual registrants. It can bring disciplinary proceedings which may
result in penalties including fines, suspensions, permanent bars,
expulsion from membership, or termination of rights and privileges for
individuals and firms.
All information about disciplinary proceedings relating to current and
former member firms is available in the Enforcement section of the IIROC website. Background information regarding the
qualifications and disciplinary history, if any, of advisors currently
employed by IIROC-regulated firms is available free of charge through
the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or
marketplace-related complaints is available by calling 1-877-442-4322.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
Vice President, Western Canada
Public Affairs Specialist