TORONTO, May 14, 2013 /CNW/ - The Investment Industry Regulatory
Organization of Canada (IIROC) announced today the appointment of Ernst
& Young Inc. (the "Administrator") to administer the distribution of
funds to eligible investors who purchased third-party Asset-Backed
Commercial Paper issued by Coventree Inc. (Coventree ABCP) from
Deutsche Bank Securities Ltd. (DBSL) between July 25, 2007 and August
This appointment will facilitate IIROC's distribution of approximately
$1,000,000 directly to investors who purchased Coventree ABCP from DBSL
during this time period.
The funds were collected in an enforcement settlement agreed to by
DBSL. IIROC has determined eligibility criteria based primarily on the
facts set out in the settlement agreement with DBSL.
The Administrator will begin contacting potentially eligible investors
by mail this month with details regarding criteria for eligibility to
participate in the distribution and the distribution process. Eligible
investors will be required to submit a completed participation form to
the Administrator by July 31, 2013. The intent is to distribute the funds directly to eligible investors
by September 30, 2013 after the allocation is determined.
Additional information and eligibility requirements are available in
materials posted by the Administrator online at www.ey.com/ca/IIROC-ABCP. Any investor questions on the distribution should be addressed
directly to the Administrator at:
ERNST & YOUNG INC.
Phone (toll-free): 1-855-941-1797
For Investor Inquiries:
IIROC Complaints and Inquiries Centre
1-877-422-4322 (Toll Free)
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 by creating and
enforcing rules regarding the proficiency, business and financial
conduct of dealer firms and their registered employees and through the
creation and enforcement of market integrity rules regarding trading
activity on Canadian marketplaces.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
For media inquiries, please contact:
Vice President, Public Affairs
Senior Media and Public Affairs Specialist