IIROC announces set date hearing for Bruce Patrick Hollett
TORONTO, June 22, 2011 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) will meet to set a date for a disciplinary hearing for Bruce Patrick Hollett.
The hearing concerns allegations that Mr. Hollett pursued an aggressive growth investment strategy which was not suitable for his client.
|Set Date Hearing:||July 5, 2011 at 10 am|
|Location:||Delta Halifax Hotel, Room Baronet 2|
|1990 Barrington Street|
|Halifax, Nova Scotia|
The set date hearing is open to the public, unless the panel orders otherwise. The date for the disciplinary hearing will be made available at www.iiroc.ca.
Specifically, the allegations are that Mr. Hollett failed to use due diligence to ensure that certain investment recommendations were suitable for his client, a retired widow who said she was only interested in conservative investments. It is alleged that Mr. Hollett's conduct violates IIROC Rule 1300.1(q).
The alleged violations occurred from about January 2004 to December 2008, while Mr. Hollett was a Registered Representative with the Halifax, Nova Scotia branch of Blackmont Capital Inc., an IIROC-regulated firm. He is currently a registrant with the Halifax branch of Canaccord Genuity Inc., an IIROC-regulated firm.
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IIROC investigates possible misconduct by its member firms and/or individual registrants. It can bring disciplinary proceedings which may result in penalties including fines, suspensions and permanent bans or terminations for individuals and firms.
All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website. Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by IIROC-regulated firms is available free of charge through the IIROC AdvisorReport service. Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1.877.442.4322.
IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada. Created in 2008 through the consolidation of the Investment Dealers Association of Canada and Market Regulation Services Inc., IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while maintaining efficient and competitive capital markets.
IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of dealer firms and their registered employees and through setting and enforcing market integrity rules regarding trading activity on Canadian equity marketplaces.For further information:
| Jeff Kehoe |
Vice President, Enforcement
| Elsa Renzella |
Director, Enforcement Litigation