October 23, 2020 (Toronto, Ontario) – On October 7, 2020, Douglas John Eley filed a Request for a Hearing and Review to the Ontario Securities Commission seeking a review of an IIROC Hearing Panel  decision dated January 28, 2020. Mr. Eley is also seeking a review of the IIROC Penalty decision dated October 6, 2020.

The hearing of the Application before the OSC will take place on January 14 and 15, 2021 at 10:00 a.m. by videoconference.  

Mr. Eley also brought a motion to the OSC for a stay of the IIROC Panel Penalty decision, pending his appeal. The hearing of the stay motion is scheduled for November 9, 2020 at 10:00 a.m. by videoconference.

The Liability and Penalty decisions of the IIROC Hearing Panel under review are available at:

Eley (Re), 2019 IIROC 35 and Eley (Re), 2020 IIROC 35

Further information about the review can be found at: Ontario Securities Commission – Proceedings

Documents related to ongoing IIROC enforcement proceedings – including Reasons and Decisions of Hearing Panels – are posted on the IIROC website as they become available. Click here to search and access all IIROC enforcement documents.

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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 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

IIROC investigates possible misconduct by its member firms and/or individual registrants.

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.

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