Enforcement Notice Decision - IN THE MATTER OF Owen Blagrave Menzel - Settlement Accepted

TORONTO, Feb. 5, 2015 /CNW/ - On January 16, 2015, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Owen Blagrave Menzel.

Mr. Menzel admitted that he failed to adequately supervise Registered Representative Rajiv Puri.

Specifically, Mr. Menzel admitted to the following violation:

(a) 

From January 2010 to February 2012, Mr. Menzel failed to adequately supervise Registered Representative Rajiv Puri, contrary to IIROC Dealer Member Rules 38, 1300.2, and 2500.



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

(a) 

Payment of a fine in the amount of $20,000; and

(b) 

A six-week suspension from registration as a Supervisor.



Mr. Menzel also agreed to pay costs in the amount of $1,500.

The Settlement Agreement is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=C7817C7729B34C8B8064EBC1E0867ADC&Language=en 
and the Hearing Panel's decision is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=B166E02025694FB4950032E300B01C8C&Language=en.

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. Menzel's conduct in September 2012.  The conduct occurred while he was the Ultimate Designated Person, Chief Compliance Officer and Supervisor with the Toronto branch of PWM Capital Inc., now Arton Investments, an IIROC-regulated firm, where Mr. Menzel is still currently registered.

*  *  *

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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