Enforcement Notice - Decision - IIROC Sanctions Sudbury Investment Advisor Merlyn Black

SUDBURY, ON, Oct. 8, 2020 /CNW/ - On September 28, 2020, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Merlyn Black.

Mr. Black admitted to discretionary trading in the accounts of three clients.

Specifically, Mr. Black admitted to the following violation:

(a)   Between June 2017 and May 2018, he effected discretionary trades in the accounts of three clients, contrary to IIROC Dealer Member Rule 1300.4.

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

(a)   A fine in the amount of $10,000; and

(b)   Disgorgement of commission in the amount of $3,401.

Mr. Black also agreed to pay costs in the amount of $1,500.

The Settlement Agreement is available at  
http://www.iiroc.ca/documents/2020/7fee0de1-5296-4cb1-865f-a14b945da249_en.pdf

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

IIROC formally initiated the investigation into Mr. Black's conduct in December 2018. The conduct occurred while he was a Registered Representative with the Sudbury branch of CIBC World Markets Inc., an IIROC-regulated firm.  Mr. Black is currently employed at Wellington-Altus Private Wealth Inc., an IIROC-regulated firm.

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, the majority of whom are commonly referred to as investment advisors. 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: Charles Corlett, Director, Enforcement Litigation, 416 646-7253, [email protected]; Media Contact: Andrea Zviedris, Manager, Media Relations, 416 943-6906, [email protected]

Related Links

www.iiroc.ca