Enforcement Notice - Decision - IN THE MATTER OF Robert Adrian Crandall - Appeal Decision Français
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Investment Industry Regulatory Organization of Canada (IIROC) - General NewsDec 11, 2020, 09:45 ET
SAINT JOHN, NB, Dec. 11, 2020 /CNW/ - The June 7, 2019 decision of the Financial and Consumer Services Tribunal in the matter of Robert Adrian Crandall was reviewed by the New Brunswick Court of Appeal on March 10, 2020.
In its decision dated December 3, 2020, the Court allowed the appeal, setting aside the decision of the Financial and Consumer Services Tribunal and restoring the decision of the IIROC Hearing Panel.
The New Brunswick Court of Appeal's decision is available at:
Investment Industry Regulatory Organization of Canada v. Crandall, 2020 NBCA 76
The IIROC Hearing Panel imposed the following sanctions on Mr. Crandall:
(a) a prohibition on approval with IIROC for five years;
(b) a fine of $150,000;
(c) a requirement to successfully re-write the Conduct and Practices Handbook exam on any approval with IIROC; and
(d) 18 months' strict supervision on any approval with IIROC.
Mr. Crandall is also required to pay costs in the amount of $35,000.
The IIROC liability and penalty decisions 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.
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IIROC is the pan-Canadian 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 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees. 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
Enforcement Contact: Charles Corlett, Acting Vice President, Enforcement, 416 646-7253, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]
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