Enforcement Notice - Hearing - IIROC Begins Disciplinary Action Against Burlington Investment Advisor Bonnie Wyatt

BURLINGTON, ON, Nov. 5, 2020 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) will set a date for a disciplinary hearing in the matter of Bonnie Wyatt.

The discipline hearing concerns allegations that:

(a) Between January 2016 and September 2018, Ms. Wyatt failed to comply with her Dealer Member's policies and procedures by facilitating new investment loans for sixteen clients, contrary to Dealer Member Rule 29.1 (prior to September 1, 2016) and Consolidated Rule 1400 (after September 1, 2016);

(b) Between August 2017 and September 2018, Ms. Wyatt recommended borrowing to invest for twelve clients for whom it was not suitable, contrary to Dealer Member Rule 1300.1(q); and

(c) Between November 2017 and September 2018, Ms. Wyatt sent misleading correspondence to four clients, contrary to Dealer Member Rule 29.7(1).

IIROC formally initiated the investigation into Ms. Wyatt's conduct in June 2019. The alleged violations occurred while she was a Registered Representative with the Burlington branch of Global Maxfin Capital Inc, no longer an IIROC-regulated firm. Ms. Wyatt is currently a Registered Representative with Integral Wealth Securities Limited, an IIROC-regulated firm.

The set date appearance is open to the public, unless the Panel orders otherwise. Members of the public who would like to attend the hearing should contact IIROC's National Hearing Coordinator at [email protected] to obtain the details. The decision of the Hearing Panel will be made available at www.iiroc.ca. 

Appearance Date:  The hearing will be held by way of videoconference on January 20, 2021 at 10:00 a.m.

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:
http://www.iiroc.ca/documents/2020/c8d031bf-446e-43ef-91ae-16872b6e891f_en.pdf

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