TORONTO, April 30, 2012 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Gary Beck.
The hearing concerns an allegation Mr. Beck effected discretionary trades in a client's account.
The hearing is open to the public, unless the panel orders otherwise. The decision of the panel will be made available at www.iiroc.ca.
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.
|Hearing Date:||10:00 a.m., June 27, 2012|
|| JPR Meeting Rooms, 390 Bay Street, 3rd floor
Specifically, the allegation is:
a) From October 2007 to April 2008, Mr. Beck effected discretionary trades in a client's account, without the account having been approved and accepted as a discretionary account, contrary to IDA Regulation 1300.4 (IIROC Dealer Member Rule 1300.4).
IIROC formally initiated the investigation into Mr. Beck's conduct in December 2009. The alleged violations occurred when he was a Registered Representative with the Orangeville, Ontario branch of Raymond James Ltd., an IIROC-regulated firm. Mr. Beck is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=26080A7A891046F9A276F2338B263A4F&Language=en.
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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.
For further information:
Vice President, Enforcement
Director, Public Affairs