Enforcement Notice - Hearing - IIROC Holds Settlement Hearing For St. Albert Investment Advisor Gordon Albert Malic

·3 min read

ST. ALBERT, AB, May 6, 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 Gordon Albert Malic.

The Agreement concerns allegations that Mr. Malic:

a) Failed to report and address an existing or potential material conflict of interest with clients, contrary to Dealer Member Rule 42;

b) Failed to inform his Dealer Member of outside business activity prior to engaging in that activity, contrary to Dealer Member Rule 18.14; and

c) Misled his Dealer Member about outside business activities, contrary to Consolidated Rule 1400.

The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. Members of the public who would like to attend the hearing may contact IIROC's National Hearing Coordinator at NHC1@iiroc.ca 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 videoconference on Tuesday, May 18, 2021, at 10:00 a.m. (MST)

IIROC formally initiated the investigation into Mr. Malic's conduct in October 2017. The alleged violations occurred while he was a Registered Representative with the St. Albert branch of Mackie Research Capital Corporation, an IIROC-regulated firm. Mr. Malic is currently a Registered Representative at the St. Albert branch of Mackie Research Capital Corporation.

The Notice of Motion announcing the settlement hearing is available at: http://www.iiroc.ca/documents/2021/50b42ef8-53ad-48ea-aa91-0990fe2c46c1_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. 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


View original content: http://www.newswire.ca/en/releases/archive/May2021/06/c4528.html

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