A hearing panel of the Investment Industry Regulatory Organization of Canada has found that Bryan Dale Claggett violated an IIROC rule when, without his firm’s knowledge, he attempted to settle a client complaint by paying the client money. In its decision dated April 4, 2011, the panel dismissed a second charge which alleged that Claggett […]
The Investment Industry Regulatory Organization of Canada has released an updated Strategic Plan, aimed at investor protection, improving its use of technology and how the regulator reacts to unexpected events. “Our revised Strategic Plan will guide us in providing efficient, cost-effective regulation while responding to important changes in the industry and markets we regulate,” said […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Maison Placements Canada Inc. With this agreement, Maison Placements has admitted that it failed to comply with its best price obligation, and did not adopt policies and procedures to ensure compliance with […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has approved a settlement agreement, with sanctions, between IIROC staff and Beacon Securities Limited. In the agreement, Beacon Securities admits to failing to comply with its best price obligation, and failing to have adequate policies and procedures in place to ensure compliance with […]
GMP Capital has struck a deal to buy New York-based fixed income boutique, Miller Tabak Roberts Securities, LLC. The acquired firm specializes in institutional sales, secondary trading and research in high-yield and distressed debt, convertible bonds, international bonds, investment grade and asset-backed securities. “MTR has built an impressive fixed income agency business that leverages a […]
The Canadian Securities Administrators (CSA) today released its oversight review of the Investment Industry Regulatory Organization of Canada (IIROC). In the review, the CSA assesses IIROC’s compliance with the relevant terms and conditions of recognition, and makes a determination as to whether regulatory processes at IIROC are adequate, consistent and fair. The review also examines […]
Canada’s regulators have teamed up to launch an expanded list of advisors who have faced disciplinary actions. The CSA has hosted a Disciplined Persons List on its website since 2009, tracking discipline meted out by provincial securities regulators. The list has now been expanded to include advisors disciplined by IIROC or the MFDA, dating back […]
The Court of Appeal for Ontario has refused a motion for leave to appeal made by David Berry with regard to a recent decision of the Ontario Superior Court of Justice Divisional Court. The Court also awarded $750 in costs to Market Regulation Services (RS) Inc. (now part of IIROC). In November of 2010, the […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, with sanctions, between IIROC staff and Todd William Stefiuk. In the agreement, Mr. Stefiuk admits his failure to disclose certain outside business activities to his firm and his involvement with clients in what is called an off-book investment […]
A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has imposed penalties against Georges Benarroch, Linda Kent, Marjorie Ann Glover and Credifinance Securities Limited, as follows: Georges Benarroch – $250,000 fine and a 15-year suspension from any IIROC registration; Linda Kent – $50,000 fine, $170,000 disgorgement, and a two-year suspension from any […]