December 2, 2022 (Vancouver, British Columbia) – A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Dominic Spooner.
The hearing concerns allegations that Mr. Spooner accepted monies from a person other than his Dealer Member and proceeded with a private placement for individuals and entities that were not clients of his firm.
The hearing is open to the public, unless the Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.
Hearing Date: January 31, 2023 and February 1, 2023 at 10:00 a.m.
Location: Via Videoconference and In-Person: Please contact the National Hearing Officer for details at [email protected].
Specifically, the allegations are that:
- Between February and April 2018, the Respondent Dominic Spooner accepted monies from a person other than his Dealer Member, for the securities related activities conducted on behalf of the Dealer Member contrary to Dealer Member Rule 18.15; and
- Between February and April 2018, the Respondent, Dominic Spooner, proceeded with a private placement for individuals and entities that were not clients of his firm in contravention of his firm’s policies and procedures and without his firm’s knowledge and/or approval. To facilitate those transactions, the Respondent signed the firm’s Finder’s Fee and Non-Circumvention Agreement, which he was not authorized to sign on behalf of the firm. This conduct is contrary to IIROC Rule 1400.
IIROC formally initiated the investigation into Mr. Spooner’s conduct in April 2020. The violations occurred while he was a Registered Representative with the Vancouver branch of iA Private Wealth Inc., an IIROC-regulated firm. Mr. Spooner is no longer a registrant with an IIROC-regulated firm.
The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
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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 32,000 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.