November 10, 2022 (Toronto, Ontario) – A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept a Settlement Agreement entered into between IIROC staff and R. J. O’Brien & Associates Canada Inc.
The Settlement Agreement relates to a Notice of Hearing that was issued in this matter on November 22, 2021 and would settle proposed allegations that R. J. O’Brien & Associates Canada Inc. failed to adequately supervise one of its registered representatives in relation to nine specific client accounts by failing to maintain adequate records of its supervisory activities in relation to those accounts.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel’s decision and the Settlement Agreement will be made available at www.iiroc.ca.
Hearing Date: The hearing will be held by way of videoconference on November 30, 2022 at 10:00 a.m.
IIROC formally initiated the investigation into R. J. O’Brien & Associates Canada Inc.’s conduct in January 2019.
The Notice of Motion announcing the settlement hearing is available at:
R. J. O’Brien & Associates Canada Inc. – Notice of Motion
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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.
Other Notices associated with this Enforcement Proceeding:
11/10/22IIROC to Hold a Settlement Hearing for R. J. O’Brien & Associates Canada Inc.Type: Enforcement NoticeSubtype: Hearing
12/08/22IIROC Sanctions R. J. O’Brien & Associates Canada Inc.Type: Enforcement NoticeSubtype: Decision