IN THE MATTER OF Joseph Debus – Review Decision

21-0186
Type: Enforcement Notice> Decision

Contact:

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

October 7, 2021 (Toronto, Ontario) – On January 27 and 28, 2021, the liability and penalty decisions of a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Joseph Debus dated March 18, 2019 and June 25, 2019 were reviewed by the Ontario Securities Commission (OSC).

The OSC released its decision on August 31, 2021 and found no justification to interfere with the Merits Decision or the Penalty Decision and dismissed Mr. Debus’ application.

Mr Debus is appealing the OSC’s decision to the Divisional Court.

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

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

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

Further information about the OSC review can be found at: Debus, Joseph OSC File No. 2019-16

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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: