VANCOUVER, Nov. 2, 2011 /CNW/ - On October 27, 2011, the British
Columbia Securities Commission (BCSC) issued a decision which set aside
an IIROC Hearing Panel's liability and penalty decision in respect of
one count against both Blackmont Capital Inc. and Dean Shannon Duke.
The result of the BCSC decision is that the penalty which the IIROC
Hearing Panel assessed to Blackmont has been reduced from $732,500 to
$120,000, and the penalty for Mr. Duke has been reduced from $265,000
IIROC has issued a Notice with details of the BCSC decision.
The IIROC Hearing Panel's decisions on liability and penalty are available at www.iiroc.ca.
The BCSC decision is available here.
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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: