TORONTO, Dec. 4, 2015 /CNW/ - Following a set date hearing held on November 10, 2015, in Toronto, Ontario, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of John Donnelly, ordered that;
| (a) |
IIROC Staff shall deliver disclosure by December 18th, 2015; |
| (b) |
Mr. Donnelly shall deliver a Response to the Notice of Hearing by January 29th, 2016; the parties shall provide the Hearing Panel with an agreed schedule of dates including dates for the hearing and for a Pre Hearing Conference by January 29, 2016; and |
| (c) |
The parties shall re-attend for a further set date before the Hearing Panel on February 3rd, 2016. |
The set date appearance will be open to the public, unless the Hearing Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.
| Set Date Appearance: |
February 3, 2016, at 10:00 a.m. |
| Location: |
IIROC Ontario Room |
The Notice of Hearing is available at:
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=AD57BC46F3DD41049C12019FD226DB2A&Language=en.
Specifically, the allegations are that:
| (a) |
From May to November 2010, Mr. Donelly as Branch Manager failed to adequately supervise a Registered Representative and the accounts of a client, contrary to IIROC Dealer Member Rules 1300.2 and 2500 (IDA Regulation 1300.2 and Policy 2, prior to June 1, 2008). |
IIROC formally initiated the investigation into Mr. Donnelly's conduct in March 2013. The conduct occurred while he was a Branch Manager with a Toronto Branch of Raymond James Ltd., an IIROC-regulated firm. Mr. Donelly is still within the industry in the capacity of a Registered Representative at the same branch of Raymond James Ltd.
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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 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: Elsa Renzella, Vice-President, Enforcement, 416 943-5877, [email protected]; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, [email protected]
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