Enforcement Notice Decision - IN THE MATTER OF Jory Capital Inc. - Suspension
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Investment Industry Regulatory Organization of Canada (IIROC) - General NewsDec 14, 2012, 13:20 ET
VANCOUVER, Dec. 14, 2012 /CNW/ - Following an expedited hearing held on December 13, 2012, in Winnipeg, Manitoba, with notice to Jory Capital Inc., a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) ordered, among other things, the following:
| 1) | Pursuant to IIROC Dealer Member Rule 20.45(1)(a) Jory's membership with IIROC be immediately suspended; |
| 2) | Pursuant to IIROC Dealer Member Rule 20.45(1)(b) Jory must continue to maintain and preserve all of its books and records (including those in electronic form) for a period of seven years from the date that the books and records came into existence and that on demand these books and records shall be made available within a reasonable period of time to IIROC staff and any other person or entity that has a legal right to access Jory's books and records; |
| 3) | Pursuant to IIROC Dealer Member Rule 20.45(1)(d) Jory be directed to immediately cease dealing with the public; and |
| 4) | Pursuant to IIROC Dealer Member Rule 20.45(1)(e) IIROC staff may take any action to facilitate the orderly transfer of Jory's client accounts from Jory's Carrying Broker, National Bank Correspondent Network to another Dealer Member. |
Effective November 22, 2012, the Securities Commissions of Manitoba, Saskatchewan, Alberta, and British Columbia suspended the registration of Jory. Any clients wishing to place a liquidating transaction, initiate an account transfer, or to request a cheque should contact Jory's Carrying broker National Bank Correspondent Network directly at 1-866-578-5755.
Effective December 6, 2012, the Ontario Securities Commission also suspended Jory's registration.
The Hearing Panel's Order will be made available at iiroc.ca
The Notice of Application for the matter is available at
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=24A03CA7C7D742C8B8A152D7A195BEEB&Language=en.
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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
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