Enforcement Notice - Decision - IN THE MATTER OF Geraldine Mannings - Settlement Accepted

VANCOUVER, July 28, 2015 /CNW/ - On July 7, 2015, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Geraldine Mannings.

Ms. Mannings admitted that she made unsuitable recommendations regarding the purchase and holding of securities in several clients' accounts.

Specifically, Ms. Mannings admitted to the following violations:

(a)	Between approximately January 2012 and June 30, 2013, Ms. Mannings failed to use due diligence to ensure that the recommendations that she made in relation to the accounts of one client were suitable, contrary to IIROC Dealer Member Rule 1300.1(q); and
(b)	Between approximately January 2012 and June 30, 2013, Ms. Mannings  failed to use due diligence to ensure that the recommendations that she made in relation to the accounts of two clients were suitable for each client, contrary to IIROC Dealer Member Rule 1300.1(q).

Pursuant to the Settlement Agreement, Ms. Mannings agreed to the following penalty:

(a)	A fine in the amount of $35,000

Ms. Mannings also agreed to pay costs in the amount of $5,000.

The Settlement Agreement is available at:
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=6208FFAE723743AF833CB6A553788B77&Language=en.

The Hearing Panel's decision dated July 7, 2015 is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=FDB8802A69F44B38AD8C0AB4B27F7DF8&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 Ms. Mannings' conduct in December 2013.  The violations occurred while she was a Registered Representative with the Nelson branch of CIBC World Markets Inc., an IIROC regulated firm.  Ms. Mannings is no longer a registrant with an IIROC-regulated firm.

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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

Enforcement Contact: Warren Funt, Vice President, Western Canada, 604 331-4750, [email protected] Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, [email protected]