Enforcement Notice - Decision - IIROC Sanctions Mackie Research Capital Corporation

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TORONTO, Nov. 24, 2020 /CNW/ - On November 12, 2020, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Mackie Research Capital Corporation.

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Provider:

PR Newswire

Retrieved on:

Tuesday, November 24, 2020

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Tags:

Financial regulation, Investment Industry Regulatory Organization of Canada, Mackie, Consumer electronics, Audio electronics, Economy

Geotags:

ONTARIO

Organisation:

INVESTMENT INDUSTRY REGULATORY ORGANIZATION OF CANADA (IIROC) - GENERAL NEWS

Website:

http://www.iiroc.ca

Summary

Key Points:

TORONTO, Nov. 24, 2020 /CNW/ - On November 12, 2020, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Mackie Research Capital Corporation.
Specifically, Mackie Research Capital Corporation admitted to the following violation:
a) Between approximately May 2010 and October 2014, Mackie Research Capital Corporation, failed to adequately supervise a Registered Representative and certain of his client accounts, contrary to Dealer Member Rules 38.1 and 2500.
Pursuant to the Settlement Agreement, Mackie Research Capital Corporation agreed to the following penalty:
a) A fine in the amount of $75,000.
Mackie Research Capital Corporation agreed to pay costs of $10,000.

Enforcement Notice - Decision - IIROC Sanctions Mackie Research Capital Corporation

TORONTO, Nov. 24, 2020 /CNW/ - On November 12, 2020, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement, with sanctions, between IIROC staff and Mackie Research Capital Corporation.

Mackie Research Capital Corporation admitted that it failed to adequately supervise Darryl Yasinowski, a Portfolio Manager and Registered Representative, and certain of his client accounts, contrary to Dealer Member Rules 38.1 and 2500. Yasinowski was previously employed at its branch office in Regina, Saskatchewan, but he is no longer a registrant with an IIROC-regulated firm.

Specifically, Mackie Research Capital Corporation admitted to the following violation:

a) Between approximately May 2010 and October 2014, Mackie Research Capital Corporation, failed to adequately supervise a Registered Representative and certain of his client accounts, contrary to Dealer Member Rules 38.1 and 2500.

Pursuant to the Settlement Agreement, Mackie Research Capital Corporation agreed to the following penalty:

a) A fine in the amount of $75,000.

Mackie Research Capital Corporation agreed to pay costs of $10,000.

The Settlement Agreement and the Hearing Panel's decision will be available at: http://www.iiroc.ca/documents/2020/bdf1883f-d73c-4c02-9bb3-e42b84165621_en.pdf

IIROC formally initiated the investigation in May 2016. Mackie Research Capital Corporation is an IIROC-regulated firm.

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