Enforcement Notice - Decision - IN THE MATTER OF James Frederick Norman Mackie and Tricia Joanne Leadbeater - Settlement Accepted

CALGARY, Oct. 26, 2015 /CNW/ - On October 9, 2015, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and James Frederick Norman Mackie and Tricia Joanne Leadbeater.

Mr. Mackie admitted that he recommended and accepted orders for 14 clients in a public offering of securities without disclosing a conflict of interest.  Ms. Leadbeater admitted that she used discretionary authority to purchase securities for seven managed account clients without disclosing a conflict of interest.  In addition, she failed to obtain written consent from managed account clients prior to participating in a public offering of securities in which her firm was acting as underwriter.

Specifically, Mr. Mackie and Ms. Leadbeater admitted to the following violations:

James Frederick Norman Mackie

a)	In April 2010, Mr. Mackie recommended and accepted orders for 14 clients in a public offering of securities without disclosing a conflict of interest, contrary to Dealer Member Rule 29.1.

Tricia Joanne Leadbeater

a)	In April 2010, Ms. Leadbeater used discretionary authority to purchase securities for seven managed account clients without disclosing a conflict of interest, contrary to Dealer Member Rule 29.1; and
b)	In April 2010, Ms. Leadbeater failed to obtain written consent from managed account clients prior to participating in a public offering of securities in which her firm was acting as underwriter, contrary to IIROC Rule 1300.19.

Pursuant to the Settlement Agreement, Mr. Mackie and Ms. Leadbeater agreed to the following penalties:

James Frederick Norman Mackie

a)	A fine in the amount of $30,000; and
b)	Pay costs to IIROC in the amount of $2,500.

Tricia Joanne Leadbeater

a)	A fine in the amount of $40,000; and
b)	Pay costs to IIROC in the amount of $2,500.

The Settlement Agreement is available at:
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=F0FFE5DF67FA4BB98EFC5121DA9657EA&Language=en.  

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 in October 2013.  The conduct occurred while Mr. Mackie was a Registered Representative and Ms. Leadbeater was a Registered Representative, Portfolio Manager, and a Supervisor with the Calgary branch of Mackie Research Capital Corporation, an IIROC-regulated firm.   Mr. Mackie is currently working at Richardson GMP Limited as a Registered Representative and Portfolio Manager.  Ms. Leadbeater is currently working at Richardson GMP Limited as a Registered Representative and Portfolio Manager.

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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

Enforcement Contact: Warren Funt, Vice President, Western Canada, 604 331-4750, [email protected]; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, [email protected]