VANCOUVER, May 28, 2013 /CNW/ - A hearing was originally scheduled
before a Hearing Panel of the Investment Industry Regulatory
Organization of Canada (IIROC), in the matter of Catherine Deborah
Jones on June 17, 2013. The hearing has been adjourned to October 7,
The hearing concerns allegations that Ms. Jones engaged in discretionary
trading and made unsuitable recommendations in a client's account,
misrepresented the nature of certain solicited orders by marking them
as unsolicited, communicated with the same client using an email
address not approved by the firm, and provided misleading information
to staff during staff's investigation.
The hearing is open to the public, unless the Hearing 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.
October 7-11 and October 15-17, 2013 at 10:00 a.m.
Morris J. Wosk Centre
Simon Fraser University
580 West Hastings Street, Rooms 380 and 360
Specifically, the allegations are that:
Between March 2009 and March 2010, Ms. Jones engaged in discretionary
trading in her client's accounts without first having the accounts
approved and accepted as discretionary accounts, contrary to IIROC
Dealer Member Rule 1300.4 and 1300.5;
Between March 2009 and July 2010, Ms. Jones failed to ensure that the
use of margin in her client's account was suitable for them and in
keeping with the client's investment objectives and personal
circumstances, contrary to IIROC Dealer Member 1300.1(q);
Between January 2009 and May 2010, Ms. Jones misrepresented the nature
of certain solicited orders by marking them as unsolicited, contrary to
Dealer Member Rule 29.1;
Between September and November 2009, Ms. Jones breached her firm's
internal policy by communicating with her client regarding her account
by way of an email address not approved by the firm, contrary to IIROC
Dealer Member Rule 29.1; and
Between February and March 2012, Ms. Jones provided misleading
information to IIROC staff during their investigation, contrary to
IIROC Dealer Member Rule 29.1.
IIROC formally initiated the investigation into Ms. Jones' conduct in
February 2011. The alleged violations occurred when she was a
Registered Representative with the Vancouver branch of Leede Financial
Markets Inc., an IIROC-regulated firm. Ms. Jones is currently a
Registered Representative with the Vancouver branch of Global
Securities Corporation, an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=AD8DFEC355884C2FBAB680C50FD374E7&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:
Vice President, Western Canada
Senior Media and Public Affairs Specialist