In a decision on October 6, 2011, an IIROC hearing panel found Carolann Steinhoff, former rep at Wellington West Capital, acted contrary to IIROC rules. She made discretionary purchases in a client’s account, practiced unsuitable use of margin and unsuitable investments for clients. When her firm’s compliance department questioned the purchases, Steinhoff told them the […]
Following an expedited hearing held today, an IIROC hearing panel ordered Peregrine's membership suspended.
On June 18, 2012, an IIROC hearing panel accepted a settlement agreement between the IIROC staff and Portfolio Strategies Securities, a Toronto-based investment dealer. Portfolio Strategies failed to designate a supervisor qualified to oversee options trading at the firm from December 2009 to November 2010. It also didn’t supervise the activities of an agent and […]
The Investment Industry Regulatory Organization of Canada has published a concept paper proposing to introduce a new class of IIROC Member called “Restricted Dealer Member.” The paper is part of a framework developed to facilitate the transitioning of firms carrying out brokerage activities through an exempt market dealer registration to an investment dealer registration. Stakeholders […]
On June 25, 2012, an IIROC hearing panel accepted a settlement agreement between IIROC staff and Wellington West Capital Inc., which is now National Bank Financial Inc.
IIROC will focus on firms that have high order-to-trade ratios to determine if firms should be flagged, said Victoria Pinnington, the SRO's VP for trading review and analysis.
Regulators are looking at rules for best execution, say presenters at the Canadian Equity Market conference, presented by Ontario Securities Commission and IIROC in Toronto today.
On June 4, 2012, a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a settlement agreement between the IIROC staff and James Gwilym Jones. Jones admitted he failed to use due diligence to learn and remain informed of the essential facts relative to six clients, and failed to ensure recommendations were […]
On March 30, 2011, an IIROC hearing panel found Darlene Catherine Ryan liable for the misappropriation of funds from five of her clients. The panel found she committed the following violations: (a) Between March 2005 and July 2010, she misappropriated, on 31 separate occasions, approximately $1.5 million from five clients, contrary to IIROC Dealer Member […]
IIROC says its president and CEO, Susan Wolburgh Jenah, will chair the International Forum for Investor Education (IFIE)—an alliance that promotes higher standards and information sharing in financial and investor education.