Enforcement Notice - IN THE MATTER OF Charles B. Floyd and James Gordon McDonald - Penalty Hearing
VANCOUVER, March 11, 2013 /CNW/ - A penalty hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), in the matter of Charles B. Floyd and James Gordon McDonald.
The panel will consider the penalty to be imposed as a result of their decision dated January 22, 2013 which found that Mr. Floyd made unsuitable recommendations and discretionary purchases in one client's account and that Mr. McDonald failed to supervise the account.
The Hearing Panel's liability decision and reasons is available at: http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=E1746D66C38F419E9F5F7810E8AF4C13&Language=en
The penalty hearing is open to the public, unless the panel orders otherwise. The panel's decision will be made available at www.iiroc.ca.
Documents related to ongoing IIROC enforcement proceedings - including Reasons and Decisions of Hearing Panels - are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.
|Hearing Date:||April 15, 2013, 10:00 a.m.|
|Location:||Delta Edmonton Centre|
|10222 - 102nd Street N.W.|
|Room: Victoria East|
IIROC formally initiated the investigation into Mr. Floyd's conduct in May 2009 and into Mr. McDonald's conduct in March 2009. The alleged violations occurred when they were Registered Representatives with the Edmonton branch of Union Securities Ltd., an IIROC-regulated firm. Mr. McDonald is currently a Registered Representative with the Edmonton branch of Wolverton Securities Ltd., an IIROC-regulated firm. Mr. Floyd is no longer a registrant with an IIROC-regulated firm.
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IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.
IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1.877.442.4322.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News