Enforcement Notice Hearing - IN THE MATTER OF Robert Adrian Crandall - Motion

FREDERICTON, July 10, 2015 /CNW/ - A motion has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Robert Adrian Crandall.

The motion is open to the public, unless the Hearing Panel orders otherwise. The decision of the Hearing Panel 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.

The motion relates to a disciplinary proceeding initiated against Mr. Crandall.  The discipline hearing concerns allegations that Mr. Crandall engaged in excessive trading, unauthorized discretionary trading and made unsuitable recommendations.

The Notice of Hearing which sets out the allegations is available at:

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=3FF4C4BB59DC422590C44FFF96AD6793&Language=en

The motion is being brought by IIROC staff to address the use of the information provided to Mr. Crandall at the conclusion of its investigation (the "Disclosure").  Specifically, IIROC staff are seeking the following order(s):

(a)  A direction that Mr. Crandall shall not use the Disclosure made to him in this proceeding for any purpose other than the defence of this proceeding; and

(b)  A direction that Mr. Crandall shall not provide copies of the Disclosure to, or share the contents of the Disclosure with, anyone other than a lawyer or agent retained by him to defend this proceeding.

IIROC formally initiated the investigation into Mr. Crandall's conduct in July 2013. The alleged violations occurred while he was a Registered Representative with the Fredericton, New Brunswick branch of Wellington West Capital Inc. and its successor National Bank Financial, both IIROC-regulated firms at the relevant times. Mr. Crandall is no longer a registrant with an IIROC-regulated firm.

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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