Following a disciplinary hearing held on February 5, 2013, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC), found that Jordan Rocco Steel misappropriated approximately $40,000 from two investment advisors for whom he worked as a registered assistant.
The hearing panel assessed the following penalties against Mr. Steel:
(a) A permanent ban on approval in any capacity; and
(b) A fine of $100,000.
The hearing panel also ordered Mr. Steel to pay costs in the amount of $8,454.
The panel’s decision dated February 5, 2013 is available here.
IIROC formally initiated the investigation into Mr. Steel’s conduct in December 2011. The alleged violations occurred when he was a Registered Representative with the Vancouver branch of Canaccord Genuity Corp., an IIROC-regulated firm. Mr. Steel is no longer a registrant with an IIROC-regulated firm.
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IIROC hands down ruling on multiple violations