IIROC

Decorative pattern

IIROC releases decision for Dennis

A hearing panel of the Investment Industry Regulatory Organization of Canada has found that James Charles Dennis entered into a business referral arrangement with another industry participant for which he received compensation and about which he failed to inform his firm. The panel announced its findings in a decision dated January 21, 2011. The panel […]

By Staff |February 9, 2011

1 min read

Decorative pattern

IIROC releases decision, penalty for Shamseer

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Savitri Shamseer violated IIROC Rules by making discretionary trades in a client account that was not a discretionary account. In its decision dated January 24, 2011, the panel also imposed a penalty calling for Ms. Shamseer to: Specifically, Ms. Shamseer […]

By Staff |February 9, 2011

1 min read

Decorative pattern

IIROC sets date for Ilias hearing

Christos Orestes Ilias will face allegations that he failed to fully advise a client about the fees associated with an investment at an IIROC hearing on April 19th.

By John Powell |February 3, 2011

1 min read

Decorative pattern

IIROC settles with Credit Suisse Securities

A hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) has accepted a settlement agreement, which includes sanctions, between IIROC staff and Credit Suisse Securities (Canada) Inc. In this agreement, Credit Suisse admits that it violated the Universal Market Integrity Rules (UMIR) by failing to comply with its trading supervisory obligations. The firm […]

By Staff |February 2, 2011

2 min read

Decorative pattern

“I own what?” Get ready for income trust confusion

Just a warning to the IIROC-licensed advisors out there whose clients held onto their income trust holdings: You might get some confused phone calls the next time client statements go out. No doubt you explained to clients long ago that most of their income trusts would convert to corporate structures by January 1, 2011. Less […]

By Steven Lamb |January 7, 2011

1 min read

Decorative pattern

IIROC disciplines Blackmont, Duke

A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found that Blackmont Capital Inc. and Dean Shannon Duke violated IIROC rules related to business conduct and unauthorized trading in client accounts. The panel’s full Reasons for Decision are available on the IIROC website. A separate hearing will be scheduled to determine […]

By Staff |September 29, 2010

2 min read

Decorative pattern

IIROC steps up market surveillance

The Investment Industry Regulatory Organization of Canada (IIROC) is bolstering its market monitoring capability by introducing a single-window surveillance system for all equity markets in Canada. The Surveillance Technology Enhancement Platform (STEP) gives IIROC the ability to conduct cross-market surveillance and can currently process up to 400 million trades, orders, quotes and cancellation messages per […]

By John Powell |September 29, 2010

1 min read

Decorative pattern

Market chatter rises, complaints decline: IIROC

It’s been a busy year for market regulators, despite a decline in the volume of complaints. Never mind enforcement action, the bigger job now is simply monitoring the vast quantity of market chatter, according to the annual report from the Investment Industry Regulatory Organization (IIROC). There were huge increases in the number of orders to […]

By Steven Lamb |September 13, 2010

2 min read

Decorative pattern

IIROC rolls out AdvisorReport service

Googling yourself is so passé. If you’re an IIROC-registered broker, there’s a new way to dig up your background. It can prove you’re squeaky clean, or lay your past bare, warts and all. Investors looking for a broker now have a new tool for checking out past conduct, thanks to IIROC’s new AdvisorReport. The service […]

By Steven Lamb |August 30, 2010

2 min read

Decorative pattern

Best of 2010: ‘I did what?’ A compliance field guide

This story bears repeating. Vikram Barhat tracked down some of the most common compliance problems among advisors. • • • A slew of financial violations have been keeping the hearing panels of MFDA and IIROC busy. Although many are deliberate, some of these offences are the result of glaring ignorance that leads financial practitioners afoul […]

By Vikram Barhat |August 30, 2010

6 min read

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