ST. ALBERT, AB, Sept. 29, 2020 /CNW/ - A motion has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Gordon Albert Malic.

The motion is open to the public, unless the Hearing Panel orders otherwise. Members of the public who would like to attend the Motion should contact IIROC's National Hearing Coordinator at [email protected] to obtain details. The decision of the Hearing Panel will be made available at www.iiroc.ca.

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.

Motion Date: The hearing will be held by way of teleconference on October 6, 2020, at 10:00 a.m. (MDT).

The motion relates to a disciplinary proceeding initiated against Mr. Malic. The allegations are that Mr. Malic failed to report and address a material conflict of interest, which arose when his clients invested in his outside business activities. Two of those clients lost all, or a significant portion of their investments. It is also alleged that he failed to inform his employer of outside business activities and misled them about those activities.

The Notice of Hearing and Statement of Allegations which sets out the allegations is available at: https://www.iiroc.ca/documents/2020/9ee39c5c-d8d2-4a4d-934a-b7e196c101c6_en.pdf

The motion is being brought by Mr. Malic seeking the following order(s):

IIROC formally initiated the investigation into Mr. Malic's conduct in October 2017. The alleged violations occurred while he was a Registered Representative with the St. Albert branch of Mackie Research Capital Corporation, an IIROC-regulated firm. Mr. Malic is currently a Registered Representative at the St. Albert branch of Mackie Research Capital Corporation.

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of 175 Canadian investment dealer firms and their nearly 30,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

View original content: http://www.newswire.ca/en/releases/archive/September2020/29/c3046.html