Rep fined $25,000, disgorged

By Staff | May 29, 2013 | Last updated on May 29, 2013
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On May 15, 2013, a hearing panel of the Investment Industry Regulatory Organization of Canada accepted a settlement agreement, with sanctions, between IIROC staff and Harrison Fitzgerald Keenan.

Keenan admitted he falsely endorsed client signatures and engaged in discretionary trading.

Specifically, Keenan admitted to the following violation(s):

(a) From May 2010 to July 2011, he signed certain of his clients’ names on investment related documents and passed the signatures off as the clients’ own, and thereby engaged in conduct unbecoming or detrimental to the public interest, contrary to IIROC Rule 29.1; and

(b) From May 2011 to March 2012 he engaged in discretionary trading in the accounts of one of his clients contrary to IIROC Rules 1300.4 and 1300.5.

Pursuant to the settlement agreement, Keenan agreed to the following penalty:

(a) A fine in the amount of $25,000;

(b) Disgorgement profits of $4,398.97;

(c) Suspension of two months; and

(d) Strict supervision for 5 months, with reporting requirements to be made internally with his member firm.

Keenan also agreed to pay costs in the amount of $5,000.00.

IIROC formally initiated the investigation into Keenan’s conduct in September 2012. The conduct occurred when he was a registered representative with a Toronto branch of Scotia Capital, an IIROC-regulated firm.

Keenan is currently a registered representative with the Toronto branch of Macquarie Private Wealth, another IIROC member firm. staff


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