Mr. Warren Funt reports

ENFORCEMENT NOTICE - IN THE MATTER OF SIMON ROY JAQUES - DISCIPLINE DECISION - LIABILITY AND PENALTY

Following a disciplinary hearing held on March 31, 2014, and June 24, 2014, in Vancouver, B.C., a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) found that Simon Roy Jaques violated IIROC rules by failing to ensure that the orders that he placed for the accounts of a client were suitable for her, and for failing to co-operate with an IIROC investigation.

The hearing panel's decision dated July 9, 2014, is available on IIROC's website.

Specifically, the hearing panel found that Mr. Jaques committed the following violations:

• Between 2008 and 2009, Mr. Jaques failed to use due diligence to ensure that the orders that he placed for the accounts of a client were suitable for her, contrary to IIROC Dealer Member Rule 1300.1(p) (IDA Regulation 1300.1(p) prior to June 1, 2008) and/or IIROC Dealer Member Rule 1300.1(q) (IDA Regulation 1300.1(q) prior to June 1, 2008).
• In April, 2013, Mr. Jaques refused and/or failed to attend and give information in respect of an IIROC investigation into his conduct, contrary to IIROC dealer member rules 19.5 and/or 29.1.

The hearing panel imposed the following penalties on Mr. Jaques:

• A fine of $80,000;
• A permanent ban from registration in any capacity.

Mr. Jaques is also required to pay costs in the amount of $20,000.

IIROC formally initiated the investigation into Mr. Jaques's conduct in December, 2012. The violations occurred when he was a registered representative with the Vancouver branch of Mackie Research Capital Corp. (formerly known as Research Capital Corp.), an IIROC-regulated firm. Mr. Jaques is no longer a registrant with an IIROC-regulated firm.