In the Matter of Clinton James Orr - Settlement Accepted
WINNIPEG, Dec. 12, 2019 /CNW/ - On December 3, 2019, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Clinton James Orr.
Mr. Orr admitted that he changed client contact information in order to mislead his firm and he made false or misleading statements to IIROC Staff.
Specifically, Mr. Orr admitted to the following violation(s):
a) | Between approximately November, 2017 and May, 2018, Mr. Orr changed client contact information in order to mislead his firm, contrary to Consolidated Rule 1400; and |
b) | On June 8, 2018 and April 2, 2019, Mr. Orr made false or misleading statements to IIROC Staff, contrary to Consolidated Rule 1400. |
Pursuant to the Settlement Agreement, Mr. Orr agreed to the following penalty:
a) | A fine in the amount of $22,500; |
b) | A 30-day suspension from registration in any capacity with IIROC; and |
c) | Successful rewrite of the Conduct and Practices Handbook examination within six months of re-registration. |
Mr. Orr also agreed to pay costs in the amount of $2,500.
The Settlement Agreement and the Hearing Panel's decision will be available at: http://www.iiroc.ca/documents/2019/15eec6e4-f3e8-4eb8-9dbb-88f1775a66c8_en.pdf
IIROC formally initiated the investigation into Mr. Orr's conduct in August 2018. The conduct occurred while he was a Registered Representative with the Winnipeg branch of National Bank Financial Inc., an IIROC-regulated firm. Mr. Orr is currently a Registered Representative at the Winnipeg branch of Canaccord Genuity Corp.
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 more than 170 Canadian investment dealer firms and their more than 29,000 registered employees, the majority of whom are commonly referred to as investment advisors. 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
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