Subject: LAW
Enforcement Notice - Hearing - IIROC to Hold Settlement Hearing for Former Saskatoon Investment Advisor Troy Robert Nagy
SASKATOON, Nov. 6, 2018 /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 Troy Robert Nagy.
The Agreement concerns allegations that Mr. Nagy failed to use due diligence to ensure that recommendations were suitable for three clients and engaged in personal financial dealings with two clients.
The hearing is not open to the public, but will become open in the event that the panel accepts the agreement. If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.
Hearing Date: | November 14, 2018 at 10:00 a.m. |
Location: | Hilton Garden Inn 90 22nd Street East Saskatoon, SK S7K 3X6 ? Regina Boardroom |
IIROC formally initiated the investigation into Mr. Nagy's conduct in May 2016. The conduct occurred while he was a Registered Representative with the Saskatoon branch of CIBC World Markets Inc., an IIROC-regulated firm. Mr. Nagy is no longer a registrant with an IIROC-regulated firm.
The Notice of Application announcing the settlement hearing is available at:
http://www.iiroc.ca/Documents/2018/bd78fb94-604b-4039-8c9d-52689def2b01_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 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 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
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