Enforcement Notice - Hearing - IIROC to Hold Settlement Hearing for Joseph Anthony Thomson

TORONTO, Aug. 5, 2021 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the Panel should accept a Settlement Agreement entered into between IIROC staff and Joseph Anthony Thomson.

The Agreement concerns Mr. Thomson's failure to identify and address conflicts of interest, failure to ensure that investments in a proprietary product were made in accordance with the provisions of the Offering Memorandum, and failure to use due diligence to ensure that all orders accepted and recommendations made were suitable for clients.

The hearing is not open to the public, but will become open if and when the Panel accepts the agreement. Members of the public who would like to attend the hearing may contact IIROC's National Hearing Officer at [email protected] in advance of the hearing to obtain further details. If the agreement is accepted, the Reasons for Decision and the Settlement Agreement will be made available at www.iiroc.ca.

Hearing Date: The hearing will be held by way of videoconference on September 14, 2021 at 11:00 a.m.

IIROC formally initiated the investigation into Mr. Thomson's conduct in November 2018. The alleged violations occurred while he was a Chief Executive Officer, Ultimate Designated Person, Registered Representative and Portfolio Manager of PACE Securities Corp., an IIROC-regulated firm. Mr. Thomson is no longer a registrant with an IIROC-regulated firm.

The Notice of Motion announcing the settlement hearing can be found here:

Thomson, Joseph Anthony - Notice of Motion

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.

*  *  *

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: Julia K. Mackenzie, Public Affairs Specialist, 416 919-4622, [email protected]

Related Links

www.iiroc.ca