IIROC holds disciplinary hearing for former Toronto Investment Advisor
TORONTO, Dec. 8, 2017 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Michael Ballanger.
The hearing concerns allegations that Mr. Ballanger failed to comply with his firm's policies and procedures regarding new product reviews and the receipt and containment of confidential information.
The hearing is open to the public, unless the Panel orders otherwise. The decision of the Hearing Panel 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: June 4, 2018 at 10:00 a.m.
Location: IIROC – British Columbia Room, 121 King Street West, Suite 2000, Toronto, ON
Specifically, the allegation is that:
Between April and October 2013, Mr. Ballanger failed to comply with his employer's policies and procedures regarding new product reviews and the receipt and containment of confidential information, contrary to IIROC Dealer Member Rule 29.1.
IIROC formally initiated the investigation into Mr. Ballanger's conduct in October 2014. The conduct occurred while he was a Registered Representative in Toronto with Richardson GMP, an IIROC-regulated firm. Mr. Ballanger is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing and Statement of Allegations which sets out the allegations is available at: Ballanger, Michael - Notice of Hearing and Statement of Allegations
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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: Elsa Renzella, Vice-President, Enforcement, 416 943-5877 [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]