IIROC Sanctions RBC Dominion Securities Inc.

22-0117
Type: Enforcement Notice> Decision

Contact:

Andrew P. Werbowski
Director, Enforcement Litigation
Telephone:
Email:
Julia Mackenzie
Public Affairs Specialist
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July 26, 2022 (Toronto, Ontario) – On July 20, 2022, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and RBC Dominion Securities Inc.

RBC Dominion Securities Inc. admitted to the following violation:

  1. Between August 2017 and October 2021, RBC Dominion Securities Inc. failed to include proper order designations on numerous orders entered on an IIROC-regulated marketplace, contrary to UMIR 6.2(1)(b).

Pursuant to the Settlement Agreement, RBC Dominion Securities Inc. agreed to the following penalty:

  1. a fine in the amount of $140,000.

RBC Dominion Securities Inc. also agreed to pay costs in the amount of $22,500.

The Settlement Agreement is available at:

RBC Dominion Securities Inc. – Settlement Agreement

The Hearing Panel’s decision will be made available at www.iiroc.ca.

IIROC formally initiated the investigation into RBC Dominion Securities Inc.’s conduct in October 2020.

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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.

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Other Notices associated with this Enforcement Proceeding: