This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IN THE MATTER OF Glenn Allan Prior - Decision - Penalty

TORONTO, Jan. 17, 2013 /CNW/ - Following an expedited hearing held on January 7, 2013, in Toronto, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) granted the orders sought by IIROC staff against Glenn Allan Prior.

The Order granted was based upon certain forgeries and the related criminal conviction against Mr. Prior.  In particular, Mr. Prior forged his sister's and brother's signatures on guarantees for his personal investment account.  In doing so, he made their capital available to backstop his trading.  Unbeknownst to them, he incurred significant trading losses of over $700,000, which would have exhausted nearly all of their capital had the guarantees been enforced. Ultimately, Mr. Prior's dealer, RBC Dominion Securities Inc. ("RBC DS"), declined to enforce the guarantees and instead took on Mr. Prior's trading debt.  As such, Mr. Prior's forgeries resulted in a significant fraud on RBC DS.

For further details, a copy of IIROC staff's Notice of Application can be found at:

At the hearing, IIROC staff sought orders providing that Mr. Prior's rights and privileges of approval for registration in any capacity or category with IIROC are permanently terminated and that he pay $25,000 in costs of the investigation and hearing.  The panel made an Order granting all of the requested relief.

A copy of the Hearing Panel's Order dated January 7, 2013, can be found at:

The Hearing Panel's reasons for the Order will be made available at

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.

*  *  *

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs