IIROC announces disciplinary hearing for Marco Myatovic and Doreen Lowe

VANCOUVER, May 19 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada has scheduled a disciplinary hearing for Marco Myatovic and Doreen Lowe.

The hearing concerns allegations Mr. Myatovic and Ms. Lowe both failed in their gatekeeper roles related to several client accounts. The hearing will also consider allegations that Mr. Myatovic failed in his know-your-client obligations and that Ms. Lowe engaged in unauthorized trading in a client account.

The hearing is open to the public, unless the Hearing Panel orders otherwise.

Hearing Date:       November 14, 2011, 10:00 a.m.
Location:      Morris J. Wosk Centre for Dialogue, SFU Vancouver
    Executive Room 470
    580 West Hastings Street, Vancouver BC

Specifically, it is alleged that Mr. Myatovic and Ms. Lowe engaged in conduct unbecoming and detrimental to the public interest, contrary to IIROC Dealer Member Rule 29.1, in the following instances:

  • Mr. Myatovic failed in his role as gatekeeper by facilitating manipulative or suspicious trading activity in several client accounts by pre-arranging trades and taking instructions from an individual who was not the account holder;

  • Ms. Lowe failed in her role as gatekeeper by facilitating manipulative or suspicious trading activity in several client accounts by pre-arranging trades and taking instructions from an individual who was not the account holder; and

  • Ms. Lowe engaged in unauthorized trading in a client's account.

It is also alleged that Mr. Myatovic failed in his know-your-client obligations, contrary to IIROC Dealer Member Rule 1300.1 (a), when he:

  • opened locked-in registered accounts for several clients resident in another province, without making sufficient inquiries into the circumstances of these accounts.

IIROC began its investigation into Mr. Myatovic's conduct in August 2008, and into Ms. Lowe's conduct in February 2009. The alleged violations occurred between April 2008 and November 2009, when Mr. Myatovic was a Registered Representative with the Prince George branch of Canaccord Securities Corp. (now Canaccord Genuity Corp.) and when Ms. Lowe was a Registered Representative with the Vancouver branch of Research Capital Corp. (now Mackie Research Capital Corp.), both IIROC-regulated firms.

Mr. Myatovic is currently registered as a Registered Representative with the Prince George branch of Canaccord Genuity Corp.  Ms. Lowe is currently registered as a Registered Representative with the Vancouver head office of Global Securities 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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