Enforcement Notice - Hearing - IN THE MATTER OF Patrick William McLaughlin, Andrew Michael McManus and Sharon Marie Lozinski - Settlement Hearing

CALGARY, April 17, 2015 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept Settlement Agreements entered into between IIROC staff and Patrick William McLaughlin, Andrew Michael McManus and Sharon Marie Lozinski.

The Agreements concern conduct involving Mr. McLaughlin, Mr. McManus and Ms. Lozinski failing in their duties to act as gatekeepers to the capital markets by not asking any or sufficient questions regarding the transfer of certain securities amongst Mr. McLaughlin's clients.  Mr. McLaughlin was the registered representative for the clients, Mr. McManus was the branch manager and supervisor of Mr. McLaughlin and Ms. Lozinski was an investment representative and Mr. McLaughlin's sales assistant.

The hearing is not open to the public, but will become open in the event that the panel accepts the agreements. If the agreements are accepted, the Panel's decision and the Settlement Agreements will be made available at www.iiroc.ca.

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 formally initiated the investigation into Mr. McLaughlin's conduct in June 2012.  The conduct occurred while he was a Registered Representative with the WestMount Corporate Campus branch of BMO Nesbitt Burns Inc., an IIROC-regulated firm.   Mr. McLaughlin is still employed at BMO Nesbitt Burns Inc. as a Registered Representative. 

IIROC formally initiated the investigation into Mr. McManus' conduct in February 2013.  The conduct occurred while he was a Branch Manager with the WestMount Corporate Campus branch of BMO Nesbitt Burns Inc., an IIROC-regulated firm.   Mr. McManus is still employed at BMO Nesbitt Burns Inc. as a Branch Manager. 

IIROC formally initiated the investigation into Ms. Lozinski's conduct in March 2013.  The conduct occurred while she was an investment representative with the WestMount Corporate Campus branch of BMO Nesbitt Burns Inc., an IIROC-regulated firm.   Ms. Lozinski is currently employed at Scotia Capital Inc. as an investment representative. 

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IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.

IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian 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

Related Links

http://www.iiroc.ca