(Toronto, Ontario) - May 3, 2023 – Following a motion heard on November 15, 2022, December 5, 2022 and February 14, 2023 in Toronto, Ontario, a hearing panel of the Investment Dealer Division of the New Self-Regulatory Organization of Canada (New SRO) ordered the following in the matter of Michael Patrick White:
- An adjournment until the end of September 2023. The date for commencement of the hearing, when fixed, will be peremptory to Mr. White. Enforcement Counsel and counsel for Mr. White will agree upon a date in September 2023 for the substantive hearing.
The hearing panel’s decision on the motion dated April 19, 2023, is available at:
Re Patrick Michael White, 2023 IIROC 02
The motion relates to a disciplinary proceeding initiated against Mr. White. The allegation is that Mr. White failed to use due diligence to ensure that his investment recommendations were suitable for certain clients. The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
White, Michael Patrick – Notice of Hearing and Statement of Allegations
The Investment Dealer Division of New SRO formally initiated the investigation into the respondent’s conduct in September 2020. The alleged violation occurred while he was a Registered Representative with the Ottawa branch of Echelon Wealth Partners Inc., at the time an IIROC-regulated firm. Mr. White is still employed with Echelon Wealth Partners Inc.
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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 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:
03/17/22IIROC to Hold Disciplinary Hearing for Michael Patrick WhiteType: Enforcement NoticeSubtype: Hearing
09/13/22IIROC to Hold Disciplinary Hearing for Michael Patrick WhiteType: Enforcement NoticeSubtype: Hearing
11/07/22IN THE MATTER OF Michael Patrick White – MotionType: Enforcement NoticeSubtype: Hearing
11/24/22IN THE MATTER OF Michael Patrick White – MotionType: Enforcement NoticeSubtype: Hearing