TORONTO, June 5, 2013 /CNW/ - A penalty hearing has been scheduled
before a Hearing Panel of the Investment Industry Regulatory
Organization of Canada (IIROC), in the matter of John Edward Brodie.
The Hearing Panel will consider the penalty to be imposed as a result of
their decision dated March 22, 2013, which found that Mr. Brodie acted
contrary to IIROC Rules in that he made unsuitable investment
recommendations, effected discretionary trades and personally
compensated clients for account losses. The Hearing Panel's liability
decision is available at:
The penalty hearing is open to the public, unless the Hearing Panel
orders otherwise. The decision of the Hearing 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.
Tuesday, June 18, 2013 at 10:00 a.m.
The Lord Nelson Hotel
1515 South Park Street
IIROC formally initiated the investigation into Mr. Brodie's conduct in
March 2011. The alleged violations occurred when he was a Registered
Representative with the Halifax branch of Canaccord Capital Corp. (now
Canaccord Genuity Corp.), an IIROC-regulated firm. Mr. Brodie is
currently a Registered Representative with the Dartmouth branch of
Global Maxfin Capital Inc., an IIROC-regulated firm.
* * *
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:
Acting Vice President, Enforcement
Senior Media and Public Affairs Specialist