IN THE MATTER OF John Donnelly - Settlement
(a) The Respondent, at all material times, Branch Manager of the Toronto branch of Blackmont Capital Inc. ("Blackmont"), a Member of IIROC, failed to adequately supervise the client account management activities of the accounts by the Registered Representatives, PV and AP, employees of Blackmont, during the period June 2004 to March 2005, in contravention of Association Regulation 1300.2 and Policy No. 2 (now IIROC Rules 1300.2 and 2500). Pursuant to the Settlement Agreement, the Hearing Panel imposed the following penalty against the Respondent: (a) a suspension of registration approval for 45 days as Branch Manager or from acting in any compliance capacity with any Dealer Member of IIROC; and (b) a fine in the sum of $50,000. and required the Respondent to pay costs in the amount of $8,500.
The IDA formally initiated the investigation into the Respondent's conduct on
The Hearing Panel will issue its Reasons and Decision at a later date. The approved Settlement Agreement is available at www.iiroc.ca.
IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in
For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, [email protected]; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, [email protected]
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