Enforcement Notice - Decision - IIROC Hearing Panel Finds Former Delta Investment Advisor Alberto Tassone Liable

VANCOUVER, Dec. 13, 2018 /CNW/ - Following a disciplinary hearing held in writing, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) found that Alberto Tassone was liable of failing to disclose and obtain the approval of his firm for his involvement in outside business activities.  

Specifically, the Hearing Panel found that Mr. Tassone carried out an undisclosed and unapproved outside business activity – contrary to Dealer Member Rule.

The Hearing Panel's reasons for the decision on liability, dated November 1, 2018, is available at: http://www.iiroc.ca/Documents/2018/4f646c37-305f-4220-9f06-763caa0001d9_en.pdf.

A separate hearing will be held to determine the penalty to be imposed on Mr. Tassone, the date of which will be made available at www.iiroc.ca.  The hearing may proceed by way of written submissions.

IIROC formally initiated the investigation into Mr. Tassone's conduct in November 2013.  The violations occurred while he was a Registered Representative with the Delta, B.C. branch of Raymond James Ltd., an IIROC-regulated firm.  Mr. Tassone is no longer a registrant with an IIROC-regulated firm.

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.

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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 debt and 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

Enforcement Contact: Warren Funt, Vice-President, Western Canada, 604-331-4750, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]

Related Links

www.iiroc.ca