Enforcement Notice - Decision - IN THE MATTER OF Shirley Locke - Review Decision

HALIFAX, NS, July 9, 2021 /CNW/ - The Nova Scotia Securities Commission (NSSC) reviewed the Merits Decision (May 28, 2020), Admissibility Decision (August 7, 2020) ) and Penalty Decision (August 8, 2020) issued by a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Shirley Locke.

On June 24, 2021, the NSSC released its decision upholding most of the Merits Decision. Contravention 3 and Contraventions 1 and 2 relative to GR were set aside by the NSSC. The NSSC also confirmed the Admissibility  Decision.

The NSSC substituted the following for the Penalty Decision:

i.	a fine of $20,000 for Contraventions 1 and 5;
ii.	a fine of $18,750 for Contraventions 2 and 6;
iii.	a fine of $20,000 for Contravention 4;
iv.	costs of $25,000;
v.	a six-month suspension, commencing seven days from the date of the order, with credit to be provided for the suspension of the Applicant's registration from September 17, 2020, to December 23, 2020; and
vi.	six months of close supervision upon re–registration, including trade approvals.

The NSSC's decision is available at:
Locke, Shirley - NSSC Order dated June 24, 2021

The Liability and Penalty decisions of the IIROC Hearing Panel under review are available at:
IIROC Enforcement Proceeding - Locke, Shirley 

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: Charles Corlett, Vice-President, Enforcement, 416 646-7253, [email protected]; Media Contact: Evelyn Tchakarov, Public Affairs Specialist, [email protected]

Related Links

www.iiroc.ca