IN THE MATTER OF Robert Werner Schiesser and Jeffrey Roderick McCrimmon - Settlement Accepted

CALGARY, Jan. 6, 2012 /CNW/ - On December 9, 2011, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted the Settlement Agreements entered into between IIROC staff and Robert Werner Schiesser and Jeffrey Roderick McCrimmon.

In the Settlement Agreement, Mr. Schiesser admitted to the following violations:

Between July 2007 and March 2009, while a Registered Representative at Canaccord Genuity Corp., he:

(a)  Engaged in conduct unbecoming contrary to Dealer Member Rule 29.1 by soliciting and facilitating investments in a private placement by Aspen Racing Stables Inc. to 49 clients, without the knowledge of Canaccord Genuity Corp. and in contravention of existing firm policies; and
(b) Engaged in conduct unbecoming contrary to Dealer Member Rule 29.1 by having an undisclosed indirect financial interest in Aspen.

In the Settlement Agreement, Mr. McCrimmon admitted to the following violation:

Between July 2007 and March 2009, while a Registered Representative at Canaccord Genuity Corp., he:

(a)  Engaged in conduct unbecoming contrary to Dealer Member Rule 29.1 by soliciting and facilitating investments in a private placement by Aspen Racing Stables Inc. to 49 clients, without the knowledge of Canaccord Genuity Corp. and in contravention of existing firm policies.

Pursuant to the Settlement Agreement, Mr. Schiesser agreed to pay a fine to IIROC in the amount of $45,000.00.

Mr. Schiesser also agreed to pay costs in the amount of $4,500.00.

Pursuant to the Settlement Agreement, Mr. McCrimmon agreed to pay a fine to IIROC in the amount of $15,000.00.

Mr. McCrimmon also agreed to pay costs in the amount of $1,500.00.

The Settlement Agreements are  available at

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=A24997AEB3784141984E761698BDAB82&Language=en

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=7FA01955DFA84FB9A6CC421ED194A5C6&Language=en

The panel's Decision and Reasons for acceptance will be made available at www.iiroc.ca.

IIROC formally initiated the investigation into Mr. Schiesser and Mr. McCrimmon's conduct in October 2008.  The violations occurred when Mr. Schiesser and Mr. McCrimmon were Registered Representatives with the Calgary branch of Canaccord Genuity Corp.  Mr. Schiesser and Mr. McCrimmon are now registered in that capacity at the Calgary branch of Raymond James Ltd., an IIROC-regulated firm.

*  *  *

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:
Warren Funt
Vice President, Western Canada
604 331-4750
wfunt@iiroc.ca
Media Contact:
David Thomas
Director, Public Affairs
416 943-6921
dthomas@iiroc.ca 

 


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