IIROC announces disciplinary hearing for Catherine Deborah Jones

VANCOUVER, Nov. 2, 2011 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has scheduled a hearing for Catherine Deborah Jones.

The hearing concerns allegations that Ms. Jones failed to ensure that an account was designated as a joint account, she personally guaranteed a client's investment and she made discretionary trades.

The hearing is open to the public, unless the panel orders otherwise. The panel's decision will be made available at www.iiroc.ca.

Hearing Date:  Thursday, December 15 and Friday, December 16, 2011

Reportex Agencies Ltd.
925 West Georgia Street, Suite 1010
Vancouver, BC

Specifically, it is alleged that Ms. Jones engaged in conduct unbecoming and detrimental to the public interest, contrary to IDA By-law 29.1 and IIROC Rule 29.1 by:

  • Failing to ensure that a client account was designated as a joint account; and
  • Offering to guarantee a client's initial investment.

It is also alleged that Ms. Jones violated IDA Regulations 1300.4 and 1300.5 and IIROC Rules 1300.4 and 1300.5 by:

  • On two occasions, making discretionary orders for a client's account without having the client's written authorization, and without the account having been designated and approved as a discretionary account by her firm.

The first alleged violation of IDA By-law 29.1 and IIROC Rule 29.1 occurred between May 2007 and July 2008. The second alleged violation of this rule occurred in November 2007. The alleged violations of IDA Regulations 1300.4 and 1300.5 and IIROC Rules 1300.4 and 1300.5 occurred in March 2008 and June 2008. IDA By-laws and Regulations became IIROC Dealer Member Rules when IIROC was officially launched on June 1, 2008.

IIROC began the investigation into Ms. Jones' conduct in January 2009. The alleged violations occurred when she as a Registered Representative at the Vancouver branch of Leede Financial Markets Inc., an IIROC-regulated firm. She is currently a Registered Representative at the Vancouver head office of Union Securities Ltd., an IIROC-regulated firm.

*  *  *

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 and permanent bans or terminations 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.

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.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information:

Warren Funt
Vice President, Western Canada
  Elsa Renzella
Director, Enforcement Litigation


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