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IIROC to hold Connor disciplinary hearing Nov. 2

2015-10-08 11:49 ET - News Release

Ms. Elsa Renzella reports

IN THE MATTER OF ROBERT CONNOR DISCIPLINE HEARING

A hearing has been scheduled before a hearing panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Robert Connor.

The discipline hearing concerns allegations that Mr. Connor made unsuitable recommendations in the accounts of two clients, compensated clients without his member firm's knowledge, made unauthorized trades and engaged in discretionary trading.

The hearing is open to the public, unless the panel orders otherwise. The decision of the hearing panel will be made available on IIROC's website.

Documents related to continuing IIROC enforcement proceedings including reasons and decisions of hearing panels are posted on the IIROC website as they become available.

Hearing date:  Monday, Nov. 2, 2015, at 10 a.m.

Location:  IIROC office, 121 King St. W, Suite 2000, Toronto, Ont.

Specifically, the allegations are that:

  • During the period between March, 2011, and September, 2012, Mr. Connor made unsuitable recommendations in the accounts of two clients, contrary to IIROC Dealer Member Rule 1300.1 (q);
  • During the period between October, 2010, and August, 2012, Mr. Connor compensated clients without his member firm's knowledge, contrary to IIROC Dealer Member Rule 29.1;
  • During the period between October, 2010, and August, 2012, Mr. Connor made unauthorized trades in clients' accounts, contrary to IIROC Dealer Member Rule 29.1;
  • During the period between October, 2010, and August, 2012, Mr. Connor engaged in discretionary trading in client accounts, without the accounts having been accepted or approved as discretionary accounts, contrary to IIROC Dealer Member Rule 1300.4.

IIROC formally initiated the investigation into Mr. Connor's conduct in December, 2012. The alleged violations occurred while he was a registered representative with the Barrie, Ont., branch of Scotia Capital Inc., an IIROC-regulated firm. Mr. Connor is no longer a registrant with an IIROC-regulated firm.

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