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by Mike Caswell

The Investment Industry Regulatory Organization has found against Dean Martin Jenkins, a former Edward Jones Inc. employee who placed several clients into risky off-book investments. Mr. Jenkins facilitated the purchase of at least $980,000 worth of syndicated mortgage products, in one instance placing a client's entire pension into the products, IIROC says. In doing so, he failed to advise clients about the associated risks and he failed to disclose the investments to his employer.

The findings against Mr. Jenkins are contained in a decision and agreed statement of facts that IIROC released on Friday, Jan. 22. The decision finds Mr. Jenkins liable for a two-year series of transactions in which he repeatedly placed clients into products offered by two connected entities, Tier 1 Mortgage Corp. and First Commonwealth Mortgage Corp. (Both have since been cited by the Financial Services Commission of Ontario for "systemic disregard for the basic consumer protection measures," with the violations including failure to disclose material risks and conflicts of interest).

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