TORONTO, April 21 /CNW/ - A penalty hearing has been scheduled before a
Hearing Panel of the Investment Industry Regulatory Organization of
Canada (IIROC) to hear submissions in the matter of James Charles
The hearing will consider the appropriate penalty to be imposed as a
result of a decision by an IIROC Hearing Panel, dated January 21, 2011,
that Mr. Dennis acted contrary to IIROC rules. Mr. Dennis was found to
have engaged in conduct unbecoming a registered representative for
failing to disclose certain outside business activities to his employer
and its compliance staff.
The penalty hearing is open to the public, unless the panel orders
otherwise. The decision and reasons on penalty will be made available
to the public at www.iiroc.ca.
10:00 am, April 28, 2011
JPR Meeting Rooms
390 Bay Street, 3rd Floor, hearing Room C
Specifically, on January 21, 2011 the panel's earlier decision found that between approximately June 2007 and September 2008, Mr
Dennis failed to disclose certain outside business activities to his
employer, contrary to IIROC Rule 29.1.
IIROC began the investigation in October 2008. The violations occurred
when Mr. Dennis was a Registered Representative with the Toronto branch
of IPC Securities Corp, an IIROC-regulated firm. He is no longer a
registrant with 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
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