VANCOUVER, Oct. 28, 2014 /CNW/ - Following a penalty hearing held on July 9 and 10, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) imposed the following penalties on Robert Justin Ahrens:
(a) Payment of a fine in the amount of $15,000;
(b) A suspension from any activity requiring supervisory registration for a period of four consecutive weeks, to be completed by December 31, 2014; and
(c) To re-write the Branch Manager's course, or its equivalent, on or before December 31, 2014.
Mr. Ahrens is also required to pay costs in the amount of $5,000.
The penalty decision received on October 6, 2014 can be found at:
In an earlier decision dated March 17, 2014, the Hearing Panel found that Mr. Ahrens failed to adequately supervise Registered Representative Doreen Lowe. The Hearing Panel's liability decision is available 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.
IIROC formally initiated the investigation into Mr. Ahrens' conduct in April 2010. The conduct occurred when Mr. Ahrens was a Branch Manager at Research Capital Corporation, now Mackie Research Capital, an IIROC-regulated firm. Mr. Ahrens is no longer a registrant with any IIROC-regulated firm.
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IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., 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
For further information: Enforcement Contact: Warren Funt, Vice President, Western Canada, 604 331-4750, [email protected]; Media Contact: Karen Archer, Senior Media and Public Affairs Specialist, 416 865-3046, [email protected]