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Enforcement Notice - Decision - IIROC Fines Darren Carrigan and Jason Gold

TORONTO , Dec. 27, 2019 /CNW/ - On December 12, 2019 , a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Darren Carrigan and Jason Gold .

Both Mr. Carrigan and Mr. Gold admitted failing to fulfill their gatekeeper responsibilities to IIROC-regulated marketplaces, contrary to UMIR Rule 2.1(1).

Pursuant to the Settlement Agreement, Mr. Carrigan agreed to the following penalty:

(a)     

Payment of a fine to IIROC in the sum of $50,000; and



(b)   

To successfully complete the Trader Training Course within 6 months of the approval of the Settlement Agreement.

 

Mr. Carrigan also agreed to pay costs in the amount of $7,500 .

Pursuant to the Settlement Agreement, Mr. Gold agreed to the following penalty:

(a)    

Payment of a fine to IIROC in the sum of $20,000; and



(b)     

To successfully complete the Trader Training Course within 6 months of the approval of the Settlement Agreement.

 

Mr. Gold also agreed to pay costs in the amount of $7,500 .

The Settlement Agreement is available at
http://www.iiroc.ca/documents/2019/f543933f-95b2-4a56-aa0a-a838f750f3a8_en.pdf 

The Hearing Panel's decision will be made available at www.iiroc.ca.

IIROC formally initiated the investigation into Mr. Carrigan's conduct in March 2015 . The conduct occurred while he was a Registered Representative with Hampton Securities Limited, an IIROC-regulated firm. Mr. Carrigan is currently a registrant with Gravitas Securities Inc., an IIROC-regulated firm.

IIROC formally initiated the investigation into Mr. Gold's conduct in March 2015.  The conduct occurred while he was an Investment Representative with Hampton Securities Limited, an IIROC-regulated firm.   Mr. Gold is currently a registrant with Gravitas Securities Inc., an IIROC-regulated firm.

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.

*  *  *

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 more than 170 Canadian investment dealer firms and their more than 29,000 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. 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.

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.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News


View original content: http://www.newswire.ca/en/releases/archive/December2019/27/c2436.html