Enforcement Notice - IN THE MATTER OF Julian Robert Ricci - Discipline Hearing

TORONTO, May 5, 2014 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Julian Robert Ricci.

The hearing concerns allegations that Mr. Ricci misrepresented clients' net worth to his member firm by altering and inflating certain amounts on account documentation in order to get past the firm's suitability requirements; and falsely endorsed the signatures of several clients on account documentation and other forms.

The hearing is open to the public, unless the Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca

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.

Hearing Date:

May 27, 2014 at 10:00 a.m.



Location:

IIROC Office, Alberta Room


121 King St. W. Suite 2000


Toronto, Ontario

Specifically, the allegations are that:

a) From or about August 2011 to April 2013, Mr. Ricci engaged in conduct unbecoming a registrant or detrimental to the public interest, in that he made misrepresentations to his firm's compliance staff by inflating certain clients' net worth, contrary to IIROC Dealer Member Rule 29.1; and

b) From or about August 2011 to April 2013, Mr. Ricci engaged in conduct unbecoming a registrant or detrimental to the public interest, in that he falsely endorsed the signatures of several clients on certain client account documentation and other forms, contrary to IIROC Dealer Member Rule 29.1.

IIROC formally initiated the investigation into Mr. Ricci's conduct in May 2013. The alleged violations occurred while he was a Registered Representative with the Burlington branch of Macquarie Private Wealth Inc. [now Richardson GMP], at the relevant time an IIROC-regulated firm. Mr. Ricci is no longer a registrant with an IIROC-regulated firm.

The Notice of Hearing which sets out the allegations is available at:

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=ECD5E4D8328D499DBAAB06B7654C1C7F&Language=en.

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: Enforcement Contact: Elsa Renzella, Vice President, Enforcement, 416 943-5877, erenzella@iiroc.ca; Media Contact: Karen Archer, Senior Media and Public Affairs Specialist, 416 865-3046, karcher@iiroc.ca

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http://www.iiroc.ca

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