TORONTO, April 27 /CNW/ - A Hearing Panel of the Investment Industry
Regulatory Organization of Canada (IIROC) has imposed a permanent ban
from registration in any capacity with an IIROC-regulated firm on James
Seong Il Park for failing to cooperate in an IIROC investigation.
The penalty also includes a $25,000 fine and a requirement for Mr. Park
to pay costs of $15,000. The panel's Decision and Reasons are available on the IIROC website.
The panel found that Mr. Park refused and/or failed to attend at an
interview and give information as part of an IIROC investigation into
his conduct, contrary to IIROC Rule 19.5.
IIROC began the investigation into Mr. Park's conduct in April 2009
after being alerted to the matter as the result of an internal
investigation by his member firm. The violation of Rule 19.5 occurred
when Mr. Park was a former Registered Representative with a Toronto
branch of TD Waterhouse Inc. He is no longer registered with an
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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
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