Enforcement Notice - IN THE MATTER OF Samuel Kloda - Settlement Hearing

MONTRÉAL, Nov. 10, 2016 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept a Settlement Agreement entered into between IIROC staff and Samuel Kloda.

The Agreement concerns conduct involving a failure to ensure that securities were suitable for a client, a failure to use due diligence to remain informed of the essential facts relative to a client, excessive trading in a client's accounts and engaging in personal financial dealings with a client.

The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel's decision and the Settlement Agreement 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: 

Monday November 14, 2016 at 10:00 am



Location:   

Centre Mont-Royal


2200 Mansfield Street


Montréal, Québec

 

IIROC formally initiated the investigation into Mr Kloda's conduct in November 2013.  The conduct occurred while he was a Registered Representative with the Montréal branch of Mackie Research Capital Corporation, an IIROC-regulated firm. Mr Kloda is currently employed with Mackie Research Capital Corporation.

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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian 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: Claudyne Bienvenu, Vice-President, Québec, 514 878-2854, cbienvenu@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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