Enforcement Notice - Hearing - IIROC to Hold Penalty Hearing for Paul Maurice

MONCTON, NB, Aug. 29, 2022 /CNW/ - A penalty hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Paul Maurice.

The Hearing Panel will consider the penalty to be imposed as a result of its decision dated July 29, 2022, which found that the Mr. Maurice acted contrary to IIROC Rules. 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 Paul Maurice made misrepresentations to Enforcement Staff during the course of its investigation. 

The Hearing Panel's liability decision is available at:

Re Maurice, 2022 IIROC 18

The penalty hearing is open to the public, unless the Hearing Panel orders otherwise. Members of the public who wish to attend must contact IIROC's National Hearing Coordinator at [email protected] for more information. The decision of the Hearing Panel will be made available at www.iiroc.ca. 

Hearing date: The penalty hearing will be held by videoconference on October 31, 2022 at 10 : 00 am ADT.

IIROC formally initiated the investigation into Mr. Maurice's conduct in July 2020. The alleged violations occurred when Mr. Maurice was a registered representative at the Moncton, New Brunswick branch of CIBC World Markets Inc., an IIROC-regulated firm. Mr. Maurice is still employed with CIBC World Markets Inc.

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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.

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.

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 174 Canadian investment dealer firms of varying sizes and business models, and their more than 31,000 registered employees. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces. For more information, visit www.iiroc.ca.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

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