Enforcement Notice Decision - IN THE MATTER OF M Partners Inc. - Settlement Accepted
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Investment Industry Regulatory Organization of Canada (IIROC) - General NewsFeb 27, 2015, 12:47 ET
TORONTO, Feb, 27, 2015 /CNW/ - On February 23, 2015, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and M Partners Inc. ("M Partners").
M Partners admitted that it failed to comply with its trading supervision and audit trail obligations contrary to the Universal Market Integrity Rules ("UMIR").
Specifically, M Partners admitted that during the month of November 2012, it contravened the following requirements of UMIR:
| (a) |
It failed to comply with its trading supervision obligations, contrary to UMIR 7.1 and Policy 7.1; and |
| (b) |
It failed on receipt or origination of certain orders to record specific information relating to the orders as required by Part 11 of the Trading Rules (National Instrument 23-101), contrary to UMIR 10.11(1). |
Pursuant to the Settlement Agreement, M Partners agreed to the following penalty:
| (a) |
A fine in the amount of $40,000. |
M Partners also agreed to pay costs in the amount of $5,000.
The Settlement Agreement is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=4B25328171C74C119B2A1FC637661B61&Language=en and the Hearing Panel's decision 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 the conduct of M Partners in May 2013. M Partners is an IIROC-regulated firm.
* * *
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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