Enforcement Notice - Decision - IN THE MATTER OF Amandeep Gill - Settlement Accepted

VANCOUVER, Aug. 13, 2015 /CNW/ - On July 28, 2015, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Amandeep Gill.

Mr. Gill admitted that he was involved in the false endorsement of a client signature and misrepresentations regarding the holdings and activity in two client accounts.

Specifically, Mr. Gill admitted to the following violations:


(a) 

On or about June 10, 2013, Mr. Gill signed the signature of a client on an account form without the client's express consent and without approval from his firm, contrary to Dealer Member Rule 29.1; 


(b) 

On or about May 30, 2013, Mr. Gill made misrepresentations to a client regarding the existence of shares in a client's account, contrary to Dealer Member Rule 29.1; and


(c) 

On or about May 2, 2013, Mr. Gill made misrepresentations to a client regarding the sale of shares in a client's account, contrary to Dealer Member Rule 29.1.

Pursuant to the Settlement Agreement, Mr. Gill agreed to the following penalties:


(a)

A fine in the amount of $30,000;


(b)

A nine-month suspension from registration with IIROC;


(c)

Close supervision for 12 months upon registration in any capacity with IIROC; and


(d) 

A requirement to successfully rewrite the Conduct and Practices Handbook exam prior to any re-registration with IIROC.

Mr. Gill also agreed to pay costs in the amount of $2,500.

The Settlement Agreement dated July 28, 2015 is available at:
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=707C00CC422C40519CBFC9D08E64BE35&Language=en.

The Hearing Panel's decision 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.

IIROC formally initiated the investigation into Mr. Gill's conduct in October 2013.  The conduct occurred while he was a Registered Representative with the Vancouver branch of BMO InvestorLine Inc., an IIROC-regulated firm.   Mr. Gill is no longer a registrant with 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: Karen Archer, Manager, Media Relations, 416 865-3046, karcher@iiroc.ca

RELATED LINKS
http://www.iiroc.ca

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