VANCOUVER, May 5, 2014 /CNW/ - Following a penalty hearing held on February 25, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) imposed the following penalties on Catherine Deborah Jones:
(a) A three-month suspension to be followed by one year of strict supervision; and
(b) A fine of $48,000.
Ms. Jones is also required to pay costs in the amount of $15,000.
The penalty decision can be found at:
In an earlier decision dated December 16, 2013, the Hearing Panel found that Ms. Jones engaged in discretionary trading and made unsuitable recommendations in a client's account. The Panel also found that Ms. Jones misrepresented the nature of some of those orders by marking them as unsolicited and communicated with the same client using an email address not approved by the firm.
The decision on Liability can be found at:
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. Jones' conduct in February 2011. The violations occurred when she was a Registered Representative with the Vancouver office of Leede Financial Markets Inc., an IIROC-regulated firm. Ms. Jones is currently a Registered Representative with the Vancouver office of Global Securities Corporation, 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
For further information: Enforcement Contact: Warren Funt, Vice President, Western Canada, 604 331-4750, [email protected]; Media Contact: Karen Archer, Senior Media and Public Affairs Specialist, 416 865-3046, [email protected]