News Column

Enforcement Notice - IN THE MATTER OF e3m Investments Inc. - Discipline decision - Suspension

July 10, 2014



TORONTO, July 10, 2014 /CNW/ -Following an expedited hearing held on July 4, 2014 in Toronto, Ontario, with notice to e3m Investments Inc., a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) suspended the membership of e3m Investments Inc. ("e3m").

The Hearing Panel ordered:

    •Pursuant to Dealer Member Rule 20.45(1)(a), e3m's membership is suspended; •Pursuant to Dealer Member Rule 20.45(1)(d), e3m shall immediately cease dealing with the public, and shall take down its website; •e3m is no longer required to comply with the following requirements under the Dealer Member Rules:









    i.



    The filing requirements set out in Rule 16.2 (including the filing of audited financial statements which were due in March 2014);



    ii.

    The appointment of a Chief Financial Officer set out in Rule 38.6; and



    iii.

    The maintenance of insurance set out in Rule 400.









    •e3m shall deliver, on a monthly basis, copies of the account statements from its investment account at Caldwell Securities Ltd. (the "Accumulating Account"), to the Vice-President, IIROC Financial & Operations Compliance; •Upon determination of all claims against e3m to the satisfaction of IIROC staff, IIROC staff may move, without notice to e3m, for an order terminating the membership of e3m; •Nothing in this order is intended to affect, alter or be inconsistent with the terms and conditions imposed upon e3m by the Ontario Securities Commission effective September 9, 2013, or any subsequent variation of or addition to those terms and conditions, which e3m is required to comply with until such time as the terms and conditions are removed; and •This Order shall come into effect immediately.




The Hearing Panel's Order dated July 4, 2014, is available at:

http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=1FCE1053695C4CEBB8AC031E7C3B13B5&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 trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive 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


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Canada Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters