WINNIPEG, March 17, 2020 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) will consider whether to accept a Settlement Agreement entered into between IIROC staff and Thomas William Dunn. That matter was previously scheduled as a Disciplinary Hearing, to be heard on March 17 and 18, 2020.
The Agreement concerns allegations that Mr. Dunn engaged in a short-term trading strategy that was inconsistent with good business practices and not suitable for two clients.
The hearing is not open to the public. If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.
Hearing Date: The hearing will be held by way of conference call on March 18, 2020 at 10 a.m.
IIROC formally initiated the investigation into Mr. Dunn's conduct in August 2016. The alleged violations occurred while he was a Registered Representative and a Portfolio Manager with the Winnipeg branch of CIBC World Markets Inc., an IIROC-regulated firm. Mr. Dunn is currently a Registered Representative at the Winnipeg branch of PI Financial Corp.
The Notice of Motion announcing the settlement hearing is available at: http://www.iiroc.ca/documents/2020/71076fd2-5ce2-42ce-98d3-462260d6fd2b_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 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 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]