Aggregated News From Investment Management Regulators

IIROC Begins Disciplinary Action for New-Brunswick Investment Advisor Paul Maurice

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An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for the disciplinary hearing in the matter of Paul Maurice.

The set date appearance is open to the public, unless the Hearing Panel orders otherwise. Members of the public who wish to attend must contact IIROC’s National Hearing Officer at [email protected] for more information. The date for the hearing will be made available at www.iiroc.ca.

Set Date Appearance: The hearing will take place by videoconference on December 21, 2021 at 10:00 a.m. AST.

Specifically, the allegations are that:

  1. In January and February 2020, the Respondent engaged in discretionary trading in the joint account of two clients, without this account having been previously approved and accepted as a discretionary account, contrary to Dealer Member Rule 1300.4 and 1300.5.
  2. Between May and December 2020, the Respondent made misrepresentations to Enforcement Staff during the course of an investigation, contrary to Consolidated Rule 1400.

IIROC formally initiated the investigation into Mr. Maurice’s conduct in July 2020. The alleged violations occurred while he was a Registered Representative with the Moncton branch, in New-Brunswick, of CIBC World Markets Inc., an IIROC-regulated firm. Mr. Maurice still employed with CIBC World Markets Inc.

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:

MAURICE, Paul – Notice of Hearing and Statement of Allegations

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 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.

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada’s debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information,visit  www.iiroc.ca.

View the PDF from the Investment Industry Regulatory Organization of Canada (IIROC CA) here: Source link

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