|By PR Newswire||
|March 7, 2014 03:38 PM EST||
VANCOUVER, March 7, 2014 /CNW/ - On February 27, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Gordon Bruce Dickson.
Mr. Dickson admitted that he failed to adequately supervise registered representatives in relation to activities in client accounts.
Specifically, Mr. Dickson admitted to the following violation:
(a) Between April 2007 and October 2008, Mr. Dickson, as a Branch Manager, failed to adequately supervise certain Registered Representatives and client accounts at his branch, contrary to IIROC Dealer Member Rules 1300.2 and 2500 [prior to June 2008, IDA Regulation 1300.2 and IDA Policy 2].
Pursuant to the Settlement Agreement, Mr. Dickson agreed to the following penalties:
(a) A fine of $60,000; and
(b) A suspension from registration approval as a Branch Manager or from acting in any supervisory capacity with a Dealer Member Firm for a period of five years.
The Settlement Agreement is available at
and the Hearing 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.
IIROC formally initiated the investigation into Mr. Dickson's conduct in September 2009. The conduct occurred when he was a Branch Manager with the Kelowna, B.C. office of Canaccord Genuity Corp., an IIROC-regulated firm. Mr. Dickson is currently employed as a Registered Representative at the Kelowna, B.C. office of Wolverton Securities.
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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.
IIROC Notice 14-0062 Enforcement Notice/News Release - Decision - In the Matter of Gordon Bruce Dickson - Settlement Accepted
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News