Enforcement Notice - Decision - IN THE MATTER OF Bryan Andrew Vickers - Penalty Decision - WTVM.com-Columbus, GA News Weather & Sports

Enforcement Notice - Decision - IN THE MATTER OF Bryan Andrew Vickers - Penalty Decision

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SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

TORONTO, July 16, 2014 /CNW/ - Following a penalty hearing held on June 10, 2014, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) imposed the following penalty on Bryan Andrew Vickers:

(a) 

A fine of $30,000;   



(b) 

A suspension and prohibition on Vickers becoming a Supervisor for six months; and



(c) 

A requirement that Vickers re-write the Supervisor's Course before again becoming a Branch Manager.

Mr. Vickers is also required to pay costs in the amount of $3,000.

The penalty decision can be found at:
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=EE57C49DFA614370AA99FF00E405FA3D&Language=en
The Agreed Statement of Facts can be found at
http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=D43D76CEC9534818A8C37EB14343490F&Language=en.

Pursuant to an Agreed Statement of Facts, Mr. Vickers admitted to the following violation:

(1)

From April 2010 to August 2011, in the manner described herein, he failed to adequately supervise a registered representative ("RR") and certain of his client accounts, when the RR recommended certain inverse exchange-traded funds to clients, contrary to IIROC Dealer Member Rule 38.4.

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 formally initiated the investigation into Mr. Vickers' conduct in November 2012. The violations occurred while he was a Branch Manager with the London, Ontario branch of RBC Dominion Securities, an IIROC-regulated firm. Mr. Vickers is currently a Registered Representative with that same branch.  

*  *  *

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.

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