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Enforcement Notice Decision - IN THE MATTER OF Jory Capital Inc. - Suspension
VANCOUVER, Dec. 14, 2012, 2012 (Canada NewsWire via COMTEX) --
Following an expedited hearing held on
December 13, 2012, in Winnipeg, Manitoba, with notice to Jory Capital
Inc., a Hearing Panel of the Investment Industry Regulatory
Organization of Canada (IIROC) ordered, among other things, the
following:
1) Pursuant to IIROC Dealer Member Rule 20.45(1)(a) Jory's
membership with IIROC be immediately suspended;
2) Pursuant to IIROC Dealer Member Rule 20.45(1)(b) Jory must
continue to maintain and preserve all of its books and records
(including those in electronic form) for a period of seven years
from the date that the books and records came into existence and
that on demand these books and records shall be made available
within a reasonable period of time to IIROC staff and any other
person or entity that has a legal right to access Jory's books
and records;
3) Pursuant to IIROC Dealer Member Rule 20.45(1)(d) Jory be
directed to immediately cease dealing with the public; and
4) Pursuant to IIROC Dealer Member Rule 20.45(1)(e) IIROC staff may
take any action to facilitate the orderly transfer of Jory's
client accounts from Jory's Carrying Broker, National Bank
Correspondent Network to another Dealer Member.
Effective November 22, 2012, the Securities Commissions of Manitoba,
Saskatchewan, Alberta, and British Columbia suspended the registration
of Jory. Any clients wishing to place a liquidating transaction,
initiate an account transfer, or to request a cheque should contact
Jory's Carrying broker National Bank Correspondent Network directly at
1-866-578-5755.
Effective December 6, 2012, the Ontario Securities Commission also
suspended Jory's registration.
The Hearing Panel's Order will be made available at iiroc.ca
The Notice of Application for the matter is available at
http://docs.iiroc.ca/DisplayDocument.aspx DocumentID=24A03CA7C7D742C8B8A152D7A195BEEB&Language=en.
* * *
IIROC is the national self-regulatory organization which oversees all
investment dealers and trading activity on debt and equity marketplaces
in Canada. Created in 2008 through the consolidation of the Investment
Dealers Association of Canada and Market Regulation Services
Inc., IIROC sets high quality regulatory and investment industry
standards, protects investors and strengthens market integrity while
maintaining efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through
setting and enforcing market integrity rules regarding trading activity
on Canadian 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
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2012/14/c9250.html
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
Enforcement Contact: Warren Funt Vice President, Western Canada 604 331-4750
wfunt@iiroc.ca
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