British Columbia Securities Commission sets aside parts of IIROC Hearing Panel decision on Blackmont Capital Inc. and Dean Shannon Duke

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 to $20,000.

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:

Warren Funt
Vice President, Western Canada               
604.331.4750
wfunt@iiroc.ca
Elsa Renzella
Director, Enforcement Litigation
416.943.5877
erenzella@iiroc.ca

 


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