CALGARY, Feb. 3, 2012 /CNW/ - An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date in the matter of James Gwilym Jones.
The discipline hearing concerns allegations that Mr. Jones failed to use due diligence to learn and remain informed of the essential facts relative to six clients, and failed to use due diligence to ensure that recommendations were suitable for those clients.
The set date appearance is open to the public, unless the panel orders otherwise. The date for the discipline hearing 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
|Set Date Appearance:||Thursday, February 9, 2012, at 9:00 a.m.|
|Location:||IIROC Calgary, Main Boardroom|
|Suite 2300, 355 - 4th Avenue SW|
|Calgary, AB T2P 0J1|
Specifically, the allegations are that:
a. Mr. Jones, relative to six clients during separate multiyear periods between March 2004 and March 2009:
|i)||failed to use due diligence to learn and remain informed of the essential facts relative to his clients, contrary to IIROC Rule 1300.1(a);|
|ii)||failed to use due diligence to ensure that the recommendation of any security for his clients was suitable for them based on factors including the clients' financial situation, investment knowledge, investment objectives and risk tolerance contrary to IIROC Rule 1300.1(q);|
IIROC formally initiated the investigation into Mr. Jones's conduct in March 2009. The alleged violations occurred when he was a Registered Representative with the Calgary branch of Dundee Securities Inc., an IIROC-regulated firm. Mr. Jones is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing which sets out the allegations is available at
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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
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