Order: In the Matter of Joseph Debus

IN THE MATTER OF
JOSEPH DEBUS

Wendy Berman, Vice-Chair and Chair of the Panel

File No. 2019-16

November 12, 2021

ORDER

(Subsection 9(2) of the Securities Act, RSO 1990, c S.5)

WHEREAS the Ontario Securities Commission held a hearing in writing to consider a motion brought by Joseph Debus (Debus) for a stay of the decision of the Commission dated August 31, 2021 (the Commission Decision) until the disposition of his appeal of the Commission Decision to the Divisional Court;
ON READING the motion materials from Debus and the written submissions of Debus, Staff of the Investment Industry Regulatory Organization of Canada (IIROC) and Staff of the Commission;

IT IS ORDERED THAT:

1. the Commission Decision is stayed for sixty days, subject to the following conditions:
   • the registration of Debus shall be subject to strict supervision by his sponsoring firm; and
   • Debus’s sponsoring firm must submit monthly strict supervision reports (in the form specified in Appendix “A”) to IIROC.

 

 

 

 

 

 

Appendix “A”
STRICT SUPERVISION REPORT
To be Filed with IIROC

I hereby certify that strict supervision for the month ending _______, 202_ of the activities of Joseph Debus (the Approved Person) has been conducted and evidence to support the review has been retained. I further certify the following:

• All orders, both buy and sell of the Approved Person, have been reviewed by a qualified Supervisor prior to a trade occurring;
• All client accounts of the Approved Person have been reviewed by a qualified Supervisor on a daily and monthly basis, regardless of the amount of commissions generated, including with reference to the items listed in Dealer Member Rule 2500, and a review for leveraging and any recent amendments to know your client information;
• A review of trading activity on a daily basis has been conducted by a qualified Supervisor relative to the Approved Person's personal accounts and no regulatory issues or concerns have been identified;
• No transactions have been made in any client account until the full and correct documentation is in place;
• The Approved Person has not been granted a power of attorney over any client accounts;
• No client complaints of any nature have been received during the period covered. If there have been reportable complaints, identify the ComSet number(s) and any follow-up action initiated by the firm if not disclosed on ComSet. If there have been service complaints, details have been provided below;
• There has been no handling of any client funds or securities or payment by the Approved Person and no issuance of cheques to any clients without management approval;
• Any transfer of securities between any client accounts has been authorized by the client in writing and reviewed and approved by a qualified Supervisor;
• If the activity that led to the supervision has reoccurred, details have been provided below; and
• Reasons for the inability to comply with any of the above and disclosure of any issues or concerns identified during the period under review have been provided below.

Date		Signature of Supervisor
		Name of Supervisor (please print)
		Employing Dealer Member