Enforcement Notice - Decision 23-0017 - New SRO Sanctions Paul Maurice

MONCTON, NB, Feb. 8, 2023 /CNW/ - Following a sanctions hearing held on October 31, 2022, a hearing panel of the Investment Dealer Division, formerly IIROC, of the New Self-Regulatory Organization of Canada (New SRO) imposed the following sanctions on Paul Maurice:

1. 1. 1. a fine of $10,000 regarding Contravention 1;
      2. a fine of $50,000 regarding Contravention 2;
      3. a suspension from registration with the New SRO for a period of 10 months;
      4. to rewrite the CPH examination prior to being re-registered with the New SRO.

Mr. Maurice is also required to pay costs in the amount of $25,000.

The sanctions decision can be found at:

Re Maurice, 2022 IIROC 35

In an earlier decision dated July 29, 2022, the Hearing Panel found that Mr. Maurice has engaged in discretionary trading in the joint account of two clients, without this account having been previously approved and accepted as a discretionary account. The Hearing Panel also found that Mr. Maurice made misrepresentations to Enforcement Staff during the course of its investigation.

The decision on Liability can be found at:

Re Maurice, 2022 IIROC 18

The Investment Dealer Division of New SRO formally initiated the investigation into the Mr. Maurice's conduct in July 2020. The violations occurred while he was a Registered Representative with the Moncton branch, in New-Brunswick, of CIBC World Markets Inc., at the time an IIROC-regulated firm. Mr. Maurice is no longer a registrant with a New SRO-regulated firm.

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 New SRO-regulated firms (Investment Dealer Division) is available free of charge through the AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

New SRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

New Self-Regulatory Organization of Canada (New SRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada's debt and equity marketplaces. New SRO is carrying on the regulatory functions of the Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), and is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians' trust in financial regulation and the people managing their investments. For more information, visit www.newselfregulatoryorganizationofcanada.ca.

SOURCE New Self-Regulatory Organization of Canada

Enforcement Contact: Claudyne Bienvenu, Vice-President, Québec and Atlantic, 514 878-2854, [email protected]; Media Contact: Julia Mackenzie, Public Affairs Specialist, 416 786-1650, [email protected]