Enforcement Notice - IN THE MATTER OF Jordan Rocco Steel - Liability And Penalty Decision
VANCOUVER, Feb. 28, 2013 /CNW/ - Following a disciplinary hearing held on February 5, 2013, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), found that Jordan Rocco Steel misappropriated approximately $40,000 from two investment advisors for whom he worked as a registered assistant.
The Hearing Panel assessed the following penalties against Mr. Steel:
(a) A permanent ban on approval in any capacity; and
(b) A fine of $100,000.The Hearing Panel also ordered Mr. Steel to pay costs in the amount of $8,454. The panel's decision dated February 5, 2013 is available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=C97F33FC06F94F72AD26A0C6B176C554&Language=en. 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. Steel's conduct in December 2011. The alleged violations occurred when he was a Registered Representative with the Vancouver branch of Canaccord Genuity Corp., an IIROC-regulated firm. Mr. Steel is no longer a registrant with an IIROC-regulated firm. * * * 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.
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