TORONTO, Sept. 13, 2022 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Michael Patrick White.
The hearing concerns allegations that Mr. White failed to use due diligence to ensure that his investment recommendations were suitable for certain clients.
The hearing is open to the public, unless the Panel orders otherwise. The decision of the Hearing Panel will be made available at www.iiroc.ca.
Hearing Date: The hearing will be held by way of videoconference commencing December 12, 2022 at 10:00 a.m.
Specifically, the allegation is that:
Between January 2017 and January 2020, Mr. White failed to use due diligence to ensure that his investment recommendations were suitable for certain clients, contrary to Dealer Member Rule 1300.1.
The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
IIROC formally initiated the investigation into Mr. White's conduct in September 2020. The alleged violation occurred while he was a Registered Representative with the Ottawa branch of Echelon Wealth Partners Inc., an IIROC-regulated firm. Mr. White is still employed with Echelon Wealth Partners Inc.
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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
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