(Halifax, Nova Scotia) – April 10, 2023 – A hearing has been scheduled before a hearing panel of the Investment Dealer Division Division of the New Self-Regulatory Organization of Canada (New SRO) to consider whether the panel should accept a Settlement Agreement entered into between Enforcement Staff and Lee Fraser Harwood.
The Agreement concerns conduct involving off-book investments for various clients without authorization.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the panel’s decision and the Settlement Agreement will be made available at www.iiroc.ca.
Hearing Date: The hearing will be held by way of videoconference on Friday April 21, 2023, 10:00 am AST.
Location: Halifax, Nova Scotia
The Notice of Application announcing the settlement hearing is available at:
The Investment Dealer Division of New SRO formally initiated the investigation into Lee Fraser Harwood’s conduct in May 2020. The conduct occurred while the respondent was a Registered Representative with the Halifax branch of Scotia Capital Inc., at the time an IIROC-regulated firm. The Respondent is still within the industry in a registered capacity at the Halifax branch of BMO Nesbitt Burns 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.