On May 25, 2016, a hearing panel of the Investment Industry Regulatory Organization of Canada accepted a settlement agreement, with sanctions, between IIROC staff and Robert Graydon Oldfield.

Oldfield admitted that he failed to supervise registered representative Robert Connor. Specifically, Oldfield admitted to the following violation: from August 2010 to April 2011, Oldfield failed to adequately supervise registered representative Robert Connor, contrary to IIROC Dealer Member Rules 38.4 (a), 1300.2, and 2500

Pursuant to the Settlement Agreement, Mr. Oldfield agreed to the following penalties:

a) payment of a fine in the amount of $20,000; and

b) a six-month suspension from registration in a supervisory capacity.

Oldfield also agreed to pay costs in the amount of $3,000.

Read the settlement agreement.

IIROC formally initiated the investigation into Oldfield’s conduct in February 2013. The conduct occurred while he was a branch manager with a Barrie, Ontario branch of Scotia Capital Inc., an IIROC-regulated firm. Oldfield is no longer a supervisor but is currently an IIROC registrant at Scotia Capital Inc.