IN THE MATTER OF Joseph Debus – Debus’ Appeal Dismissed

22-0194
Type: Enforcement Notice> Decision

Contact:

Andrew P. Werbowski
Director, Enforcement Litigation
Telephone:
Email:
Julia Mackenzie
Public Affairs Specialist
Telephone:
Email:

December 6, 2022 (Toronto, Ontario) – The decision of the Ontario Securities Commission in the matter of Joseph Debus dated August 31, 2021 was reviewed by the Ontario Superior Court of Justice Divisional Court (Divisional Court) on October 18, 2022.

The Divisional Court’s November 14, 2022 decision dismissed Mr Debus’ appeal and ordered him to pay costs of $5,000 to IIROC.

The Divisional Court’s decision will be made available at www.canlii.org

The OSC’s decision is available at: Debus (Re), 2021 ONSEC 22

The Hearing Panel’s liability decision is available at: Debus (Re), 2019 IIROC 05

The Hearing Panel's penalty decision is available at: Debus (Re), 2019 IIROC 18

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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.

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Other Notices associated with this Enforcement Proceeding:

MFDA and IIROC have consolidated

As of January 1, 2023 the MFDA and IIROC have come together as New Self-Regulatory Organization of Canada (New SRO).

New SRO has assumed the regulatory responsibilities of the MFDA and IIROC.

We have set up an interim website for updates and information related to the New SRO including:

  • Executive Management
  • Governance
  • New SRO Rules
  • Member Application
  • Investor Office and the Investor Advisory Panel
  • Information concerning mutual fund dealers registered in Québec
  • Complaints
  • Careers

Enforcement proceedings, membership lists, continuing education, investor education resources and any other information not set out above continue to reside on www.mfda.ca and www.iiroc.ca.