December 9, 2021 (Vancouver, BC) – On November 19, 2021, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Larry Martin.
Mr. Martin admitted that he failed to properly perform his role as a gatekeeper to the capital markets.
Specifically, Mr. Martin admitted to the following violation:
between June 2016 and October 2018, Martin failed to fulfill his gatekeeper responsibilities, contrary to Dealer Member Rule 29.1 (before September 1, 2016) and Consolidated Rule 1400 (after September 1, 2016).
Pursuant to the Settlement Agreement, Mr. Martin agreed to the following penalty:
a fine in the amount of $82,000 (which includes disgorgement of the approximately $32,000 in commissions earned by Martin in relation to the contravention).
Mr. Martin also agreed to pay costs in the amount of $20,000.
The Settlement Agreement is available at:
The Hearing Panel’s decision will be made available at www.iiroc.ca.
IIROC formally initiated the investigation into Mr. Martin’s conduct in November 2018. The violations occurred while he was a Registered Representative with the Vancouver branch of Leede Jones Gable Inc. Mr. Martin is still within the industry in a registered capacity at the Vancouver branch of Leede Jones Gable Inc.
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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 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.