VANCOUVER, BC, July 9, 2020 /CNW/ - On June 25, 2020, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC Staff and Kindle Blythe.
Ms. Blythe admitted she failed to report client complaints to her firm's compliance department and misled Enforcement Staff about them during an investigative interview with IIROC staff.
Specifically, Ms. Blythe admitted to the following violations:
(a) Between September 2016 and January 2017, Ms. Blythe failed to report four client complaints to her Dealer Member, Harbourfront Wealth Management Inc. ("Harbourfront"), contrary to Harbourfront's policies and procedures and Dealer Member Rule 3100.
(b) On January 30, 2017, Ms. Blythe misled Enforcement Staff in a sworn interview, contrary to Consolidated Rule 1400.
Pursuant to the Settlement Agreement, Ms. Blythe agreed to the following penalty:
(a) Nine month suspension from registration with IIROC;
(b) Six months of close supervision upon any registration with IIROC;
(c) Successful re-write of Conduct and Practices Handbook course;
(d) Payment of fine of $10,000; and
(e) Payment of costs of $500.
The Settlement Agreement is available at:
IIROC formally initiated the investigation into Ms. Blythe's conduct in September 2016. The violations occurred while she was a Registered Representative with the Vancouver branch of Harbourfront Wealth Management Inc. Ms. Blythe 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 that 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 more than 170 Canadian investment dealer firms and their more than 29,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces 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
For further information: 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]