Enforcement Notice - Hearing - IIROC Begins Disciplinary Action Against Former St. Catharines Investment Advisor Dean Martin Jenkins

ST. CATHARINES, ON, March 30, 2020 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) will set a date for a disciplinary hearing  in the matter of Dean Martin Jenkins.

It is alleged that Mr. Jenkins recommended and facilitated the off-book purchase of high-risk syndicated mortgage investments for numerous clients without telling his employer of his involvement with these products or his clients' investments. He received compensation of at least $54,000 as a result of his clients' off-book purchases.

Specifically, the discipline hearing concerns allegations that:

(a)        Between November 2013 and February 2016, Mr. Jenkins facilitated off-book investments for several clients without the knowledge or approval of his Dealer Member, and received remuneration for the investments, contrary to Dealer Member Rules 18.14 and 29.1.

IIROC formally initiated the investigation into Mr. Jenkin's conduct in October 2018. The alleged violations occurred while he was a Registered Representative with the St. Catharines branch of Edward Jones Inc., an IIROC-regulated firm.  Mr. Jenkins 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.  Members of the public who would like to attend the appearance should contact IIROC's National Hearing Coordinator at NHC1@iiroc.ca to obtain the details.  The date for the discipline hearing will be made available at www.iiroc.ca.

Set Date Appearance:  The hearing will be held by way of teleconference on April 30, 2020 at 10:00 a.m.

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at:

http://www.iiroc.ca/documents/2020/20e6040c-6139-4e87-be73-2dd7c9106017_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 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