Enforcement Notice - Hearing - IIROC Holds Settlement Hearing for Former Investment Advisor Philip Winer

TORONTO, May 28, 2019 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) will hold a hearing to consider whether it should accept a Settlement Agreement, with sanctions, between IIROC staff and Philip Winer.

The Agreement concerns allegations that Mr. Winer failed to ensure certain transactions in client accounts were within the bounds of good business practice. He also engaged in discretionary trading and altered client documents.

The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.

Hearing Date:	Wednesday June 19, 2019 at 10:00 a.m.
Location:	IIROC – 121 King Street West, Suite 2000, Toronto, Ontario

IIROC formally initiated the investigation into Mr. Winer's conduct in June 2016. The conduct occurred while he was a Registered Representative with Burgeonvest Bick Securities Limited, which was acquired by Industrial Alliance Securities Inc. in 2016. He is no longer a registrant with an IIROC-regulated firm.

The Notice of Application announcing the settlement hearing is available at: http://www.iiroc.ca/documents/2019/e695bfb6-73ac-4769-be5f-4a2afb615dc5_en.pdf

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

Enforcement Contact: Charles Corlett, Director, Enforcement Litigation, 416 646-7253, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]

Related Links

www.iiroc.ca