Subject: LAW
Enforcement Notice - Hearing - IIROC to Set Hearing Date for Former Regina Financial Advisor Rodney Joseph Nieswandt
Senior clients affected
REGINA, Aug. 21, 2018 /CNW/ - An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for the disciplinary hearing in the matter of Rodney Joseph Nieswandt.
The discipline hearing concerns allegations against Mr. Nieswandt that:
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a) |
Between January, 2012 and December, 2015, Mr. Nieswandt failed to use due diligence to ensure that recommendations were suitable for four clients, contrary to Dealer Member Rule 1300.1(q); |
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b) |
Between January, 2012 and December, 2015, Mr. Nieswandt conducted unauthorized trades in four client accounts, contrary to Dealer Member Rule 29.1; |
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c) |
In July, 2011, Mr. Nieswandt compensated a client for account losses, without the knowledge or approval of his employer, contrary to Dealer Member Rule 29.1; and |
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d) |
In March, 2017, Mr. Nieswandt failed to cooperate with Enforcement Staff who were conducting an investigation, contrary to section 8104 of the Consolidated Rules. |
IIROC formally initiated the investigation into Mr. Nieswandt's conduct in February 2016. The alleged violations occurred while he was a Registered Representative with the Regina, Saskatchewan branch of CIBC World Markets Inc., an IIROC-regulated firm. Mr. Nieswandt is no longer a registrant with an IIROC-regulated firm.
The set date appearance is open to the public, unless the Hearing Panel orders otherwise. The date for the discipline hearing will be made available at www.iiroc.ca.
Set Date Appearance: September 24, 2018 at 10:00 a.m. (CST)
Location: DoubleTree by Hilton Hotel and Conference Centre Regina SilverBirch Conference Centre, 2nd Floor ? Room 3 1975 Broad Street Regina, SK
The Notice of Hearing and Statement of Allegations which sets out the allegations is available at: . http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=F2E555053D6447D5842F9C2AF32395D5&Language=en
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 national self-regulatory organization which 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 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
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