Enforcement Notice Decision - IN THE MATTER OF John Shane MacEachern - Settlement Accepted Français
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Investment Industry Regulatory Organization of Canada (IIROC) - General NewsApr 25, 2014, 12:00 ET
CHARLOTTETOWN, PEI, April 25, 2014 /CNW/ - On April 7, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and John Shane MacEachern.
Mr. MacEachern admitted that he recommended and facilitated an investment in securities offered by Capital Market Technologies Inc., without the consent or knowledge of his Dealer Member firm.
Specifically, Mr. MacEachern admitted to the following violation: |
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(a) |
Between July 2010 and June 2011, he recommended and facilitated an investment in securities without the consent or knowledge of his Dealer Member, contrary to IIROC Dealer Member Rule 29.1. |
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Pursuant to the Settlement Agreement, Mr. MacEachern agreed to the following penalties: |
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a) |
A fine in the amount of $25,000; |
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b) |
A six-month period of strict supervision; and |
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c) |
Re-write and successfully complete the Conduct and Practices Handbook Course within 12 months of acceptance of this Settlement Agreement. |
Mr. MacEachern also agreed to pay costs in the amount of $5,000.
The Settlement Agreement is available at
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=11BA604C875646D58330B2944572C93E&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 Mr. MacEachern's conduct in December 2012. The conduct occurred while he was a Registered Representative with the Charlottetown, PEI branch of RBC Dominion Securities Inc., an IIROC-regulated firm. Mr. MacEachern is currently registered as a Registered Representative with the Charlottetown, PEI branch of TD Waterhouse Canada Inc.
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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: Elsa Renzella, Vice President, Enforcement, 416 943-5877, [email protected]; Media Contact: Karen Archer, Senior Media and Public Affairs Specialist, 416 865-3046, [email protected]
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