TORONTO, Sept. 20, 2011 /CNW/ - A Hearing Panel of the Investment
Industry Regulatory Organization of Canada (IIROC) has scheduled a
disciplinary hearing for David Berry.
The hearing concerns allegations that Mr. Berry solicited client orders in new issue securities prior to
the date when they began trading on the Toronto Stock Exchange (TSX),
and conducted trades that were not entered on a marketplace or
exchange, resulting in a lack of transparency to the marketplace.
April 10-23, 2012 at 10:00 a.m.
JPR Meeting Rooms
390 Bay Street, 3rd floor, Hearing Room C
Specifically, it is alleged that Mr. Berry:
Solicited client orders for new issue securities during the distribution
period, thus causing his firm, Scotia Capital Inc., to violate Part 7.7(5) (pre-May 2005 version) of the Universal Market Integrity Rules (UMIR)
on 11 occasions; and
Conducted trades that were not entered on a marketplace or recognized
exchange, violating UMIR 6.4 on 10 occasions.
The alleged UMIR violations occurred between June 2004 and April 2005,
when Mr. Berry was a Registered Representative with Scotia Capital
Inc., an IIROC-regulated firm. IIROC began its formal investigation
into Mr. Berry's conduct in June 2005. He is no longer registered with
an IIROC-regulated firm.
* * *
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
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