IIROC announces disciplinary hearing for Maria Celeste Silvaggio

MONTRÉAL, Sept. 22, 2011 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has scheduled a hearing to determine whether it should accept a Settlement Agreement between IIROC staff and Maria Celeste Silvaggio.

The proposed agreement relates to allegations that Ms. Silvaggio misappropriated funds from three clients.

Hearing Date:  Tuesday, October 4, 2011, 11:00 a.m.
Location:    5 Place Ville-Marie, suite 1550, Montréal (Québec)

The hearing is 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.

IIROC began its investigation into Ms. Silvaggio's conduct in November 2010. The alleged violations occurred between January 2005 and December 2007, when she was a Registered Representative with the 600 De Maisonneuve Blvd., Montreal branch of CIBC World Markets Inc., an IIROC-regulated firm. She is no longer registered with an IIROC-regulated firm.

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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:

For further information, please contact:
Carmen Crépin
Vice President, Québec
514.878.2854
ccrepin@iiroc.ca
Elsa Renzella
Director, Enforcement Litigation
416.943.5877
erenzella@iiroc.ca

 


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