IIROC reaches settlement with three former All Group reps
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The Ontario Securities Commission (OSC) has permanently banned a former advisor who was criminally convicted of stealing several million dollars from former clients, the provincial securities regulator announced Wednesday.

Mark Allen Dennis was found to have misappropriated several million dollars from former clients. Dennis did not participate in the OSC hearing.

According to the OSC hearing panel decision banning him, Dennis was banned by the Investment Industry Regulatory Organization of Canada (IIROC) in 2011 and fined $1.45 million, among other sanctions, following an IIROC disciplinary hearing.

In 2014, he was convicted of one count of theft by conversion for misappropriating $1.7 million from a former client, and he pled guilty in 2015 to a further 10 counts of theft, relating to almost $5 million that was misappropriated from other clients.

The conduct for which he was sanctioned took place between 2003 and 2010 when he worked as an advisor with TD Waterhouse, and later, Richardson Partners. Prior to that, he played linebacker for the Hamilton Tiger Cats in the Canadian Football League.

OSC seeks ban on ex advisor convicted of fraud 


In issuing its own ban on Wednesday, the OSC concluded that Dennis exploited his relationship with his clients and breached their trust, some of his victims were vulnerable and unsophisticated, and they suffered significant losses, among other factors.

His conduct “easily qualif[ies]… as among the worst possible abuses of the capital markets that an individual could commit upon numerous innocent and vulnerable victims,” the OSC panel ruled.

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