TORONTO, Sept. 20,
2024 /CNW/ - A sanctions hearing has been scheduled
before a hearing panel of the Canadian Investment Regulatory
Organization (CIRO) under the Investment Dealer and Partially
Consolidated Rules in the matter of Michael Patrick White.
The hearing panel will consider the sanctions to be imposed as a
result of its decision on liability dated August 12, 2024, where the panel found that
Michael Patrick White failed to use
due diligence to ensure that his investment recommendations were
suitable for two clients and dismissed the allegations with respect
to a third client. The hearing panel's liability decision is
available at:
Re White 2024 CIRO 67
The sanctions hearing is open to the public unless the hearing
panel orders otherwise. The decision of the hearing panel will be
made available at www.ciro.ca.
Hearing Date: October 28, 2024 at 10:00 am (Eastern Time)
Location: Toronto, Ontario (via videoconference)
Members of the public who would like to obtain further
particulars should fill out this questionnaire.
The violation occurred while Michael
Patrick White was a Registered Representative with the
Ottawa branch of Echelon Wealth
Partners Inc. Michael Patrick White
is no longer a registrant with a CIRO-regulated firm.
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.
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.
SOURCE Canadian Investment Regulatory Organization (CIRO)