(Toronto, Ontario) April 13, 2023 – The Order of the Ontario Securities Commission (“OSC”) dated March 5, 2021 (the “OSC Order”) and the Reasons for Decision released on August 23, 2021 (the “OSC Reasons”), dismissing Douglas John Eley’s application for a hearing and review of the decisions of the Investment Industry Regulatory Organization of Canada (“IIROC”) issued on January 28, 2020 (Liability) and October 6, 2020 (Penalty) were reviewed by Divisional Court, Superior Court of Justice on June 13, 2022.
The Divisional Court released its decision on April 6, 2023 dismissing the appeal.
The Divisional Court’s decision is available at:
The OSC Order dated March 5, 2021 and the OSC Reasons dated August 20, 2021 are available at:
The Liability and Penalty decisions of the IIROC Hearing Panel are available at:
* * *
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 New SRO-regulated firms (Investment Dealer Division) is available free of charge through the AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.
New SRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.
New Self-Regulatory Organization of Canada (New SRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.newselfregulatoryorganizationofcanada.ca.
Other Notices associated with this Enforcement Proceeding:
11/30/18IIROC To Set Date For Disciplinary Hearing Regarding Oakville Investment Advisor Douglas John EleyType: Enforcement NoticeSubtype: Hearing
06/18/19IIROC to Hold Disciplinary Hearing for Douglas John EleyType: Enforcement NoticeSubtype: Hearing
02/06/20IIROC Hearing Panel Finds Oakville Portfolio Manager Douglas John Eley LiableType: Enforcement NoticeSubtype: Decision
02/26/20IIROC to Hold Penalty Hearing for Oakville Portfolio Manager Douglas John EleyType: Enforcement NoticeSubtype: Hearing
06/11/20IIROC Adjourns Penalty Hearing for Oakville Investment Advisor Douglas John EleyType: Enforcement NoticeSubtype: Hearing
10/14/20IIROC Sanctions Oakville Investment Advisor Douglas John EleyType: Enforcement NoticeSubtype: Decision
10/23/20IN THE MATTER OF Douglas John Eley – Review RequestedType: Enforcement NoticeSubtype: Hearing
03/29/21IN THE MATTER OF Oakville Investment Advisor Douglas John Eley – Ontario Securities Commission: Review DecisionType: Enforcement NoticeSubtype: Decision
09/15/21IN THE MATTER OF Douglas John Eley – Appeal RequestedType: Enforcement NoticeSubtype: Hearing