Enforcement Notice - Decision - IIROC Sanctions St. Albert Investment Advisor Gordon Albert Malic

ST. ALBERT, AB, June 4, 2021 /CNW/ - On May 18, 2021, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Gordon Albert Malic.

Specifically, Mr. Malic admitted to the following violations:

1. Failing to report and address an existing or potential material conflict of interest with clients, contrary to Dealer Member Rule 42;
2. Failing to inform his employer of outside business activity before engaging in that activity, contrary to Dealer Member Rule 18.14; and
3. Misleading his employer about outside business activities, contrary to Consolidated Rule 1400.

 Pursuant to the Settlement Agreement, Mr. Malic agreed to the following penalty:

1. A fine of $75,000;
2. A suspension from acting in a registered capacity with IIROC for six months;
3. Close supervision for six months; and
4. Successful completion of the Conduct and Practices Handbook exam.

Mr. Malic also agreed to pay costs in the amount of $5,000.

The Settlement Agreement is available at: http://www.iiroc.ca/documents/2021/02065186-9f91-44fd-b1cc-e4acf8a1191d_en.pdf 

The Hearing Panel's decision will be made available at: www.iiroc.ca.

IIROC formally initiated the investigation into Mr. Malic's conduct in October 2017. The alleged violations occurred while he was a Registered Representative with the St. Albert branch of Mackie Research Capital Corporation, an IIROC-regulated firm. Mr. Malic is currently a Registered Representative at the St. Albert branch of Mackie Research Capital Corporation.

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.

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IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms of varying sizes and business models, and their more than 30,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and 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: Richard Korble, Vice President, Western Canada, 403-260-6278, [email protected]; Media Contact: Evelyn Tchakarov, Public Affairs Specialist, [email protected]

Related Links

www.iiroc.ca