CIRO Hearing Panel issues Reasons for Decision in the matter of Leede Jones Gable Inc.

24-0057
Type:
Decision Notice
Rulebook connection
IDPC Rules
UMIR

Contact

Vancouver (British Columbia), February 8, 2024 – Following a settlement hearing held under the Investment Dealer and Partially Consolidated Rules on December 5, 2023 in Vancouver, British Columbia, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) found that Leede Jones Gable Inc. (Leede) failed to adequately supervise the activities of a Registered Representative, 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 participated in securities trades by means other than the entry of an order on a marketplace.

The hearing panel issued its reasons for decision on January 12, 2024, which are available at:

Re Leede Jones Gable 2024 CIRO 07

In its reasons for decision, the hearing panel confirmed the fine of $150,000 imposed on Leede.

Leede is also required to pay costs in the amount of $15,000.

Leede Jones Gable Inc. 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.

The 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.

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24-0057
Type:
Decision Notice
Rulebook connection
IDPC Rules
UMIR

Contact

Other Notices associated with this Enforcement Proceeding: