CIRO Sanctions Leede Jones Gable Inc.

VANCOUVER, BC, Dec. 21, 2023 /CNW/ – On December 5, 2023, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) accepted a settlement agreement, with sanctions, under the Investment Dealer and Partially Consolidated Rules, between Enforcement Staff and Leede Jones Gable Inc. (Leede).

Leede admitted to the following contraventions:

a)  between April 2016 and October 2018, it failed to adequately supervise the activities of a Registered Representative at the time, Larry Martin;

b)  between November 2016 and April 2022, it failed to have adequate policies to ensure compliance with the requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and its associated regulations; and

c)  in August 2017 and December 2017, it participated in trades in securities by means other than the entry of an order on a marketplace.

Pursuant to the settlement agreement, Leede agreed to pay a fine of $150,000.

Leede also agreed to pay costs of the proceeding in the amount of $15,000.

The Settlement Agreement is available at:                                 

Leede Jones Gable – Settlement Agreement

The hearing panel’s decision will be made available at www.ciro.ca. 

Leede Jones Gable is a CIRO-regulated Dealer Member with a head office in Calgary, Alberta, and business locations across Canada, including one in Vancouver, British Columbia.

All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO’s website.

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322.

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

Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

SOURCE Canadian Investment Regulatory Organization (CIRO)