The Investment Industry Regulatory Organization of Canada (IIROC) has sanctioned a former branch manger in British Columbia for failing to adequately supervise reps and client accounts at his branch.

On February 27, an IIROC hearing panel of the accepted a settlement agreement, with sanctions, between IIROC staff and Gordon Dickson.

Dickson admitted that he failed to adequately supervise registered representatives in relation to activities in client accounts. The conduct occurred between April 2007 and October 2008 when he was a branch manager with the Kelowna, B.C. office of Canaccord Genuity Corp.

As penalty, Dickson agreed to a fine of $60,000; and a suspension from registration approval as a branch manager or from acting in any supervisory capacity with a dealer for a period of five years.

Dickson is currently employed as a registered representative at the Kelowna, B.C. office of Wolverton Securities.