IIROC announces disciplinary hearing for Kostantinos Georgeos Arapis

VANCOUVER, April 21 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) to consider whether the panel should accept a settlement agreement between IIROC staff and Kostantinos Georgeos Arapis.

The agreement concerns allegations that Mr. Arapis had clients participate in an off-book transaction and that he failed to ensure that certain trades were within the bounds of good business practice.

The hearing will not be open to the public, but will become open in the event the panel accepts the agreement. If the agreement is accepted, the panel's decision and reasons, together with the agreement, will be made available at www.iiroc.ca.

Hearing Date:  May 11, 2011, at 10 a.m.
   
Location:   Kelsey Room, Delta Bessborough
601 Spadina Crescent East
Saskatoon, SK

IIROC began its investigation into Mr. Arapis' conduct in March, 2009.  The alleged violations occurred when Mr. Arapis was a Registered Representative with Saskatoon branches of Assante Capital Management Ltd. and Raymond James Ltd., both IIROC-regulated firms. Mr. Arapis is currently registered with a Saskatoon branch of Canaccord Genuity Corp., 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

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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