Enforcement Notice - Hearing - IIROC Holds Settlement Hearing for RBC Dominion Securities and Roberta Benson

TORONTO, ON, June 30, 2021 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the Panel should accept a Settlement Agreement entered into between IIROC staff, RBC Dominion Securities Inc., and Roberta Benson.

The Agreement between IIROC and RBC Dominion Securities Inc. involves failure to supervise Benson, contrary to Dealer Member Rules 2500 and 38.1. 

The Agreement between IIROC and Benson concerns the failure to use due diligence to learn and remain informed of essential facts relative to clients, contrary to Dealer Member Rule 1300.1(a).

The hearing is not open to the public, but will become open in the event that the Panel accepts the agreement.  Members of the public who would like to attend the hearing may contact IIROC's National Hearing Coordinator at NHC1@iiroc.ca in advance of the hearing to obtain further details.  If the agreement is accepted, the Panel's decision and the Settlement Agreement will be made available at www.iiroc.ca.

Hearing Date: The hearing will be held by way of videoconference on July 5, 2021, at 10:00 a.m.

IIROC formally initiated the investigation into Benson's conduct in September 2018. The conduct occurred while she was a Registered Representative with RBC Dominion Securities Inc., an IIROC-regulated firm.  Benson is no longer a registrant with an IIROC-regulated firm.

IIROC formally initiated the investigation into RBC Dominion Securities Inc. conduct in March 2019. 

The Notice of Application announcing the settlement hearing is available at:

RBC Dominion Securities Inc. – Notice of Application

Benson, Roberta - Notice of Application

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.

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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 of varying sizes and business models, and their more than 30,000 registered employees. 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