IIROC announces set date hearing for Sandy Joseph Bortolin

TORONTO, Nov. 8, 2011 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has scheduled a set date hearing for Sandy Joseph Bortolin.

The proposed hearing concerns allegations that Mr. Bortolin carried on undisclosed outside business activities, engaged in undisclosed personal financial dealings, facilitated suspicious transactions and misled IIROC staff in the course of their investigation.

The set date hearing is open to the public, unless the panel orders otherwise. The date for the disciplinary hearing will be made available at www.iiroc.ca.

Set Date Hearing:  Wednesday, November 23, 2011, 10:00 am
   
Location:   

Legal Transcript Services
350 Bay Street, Suite 700
Toronto, ON

Specifically, the allegations are that:

From as early as 2003 and continuing until 2008, Mr. Bortolin, contrary to IDA By-law 29.1 and IIROC Dealer Member Rule 29.1:

(a)     carried on outside business activities without the knowledge or approval of his Member Firm;

(b)     engaged in personal financial dealings with his clients without the knowledge or approval of his Member Firm;

(c)     facilitated suspicious transactions; and

(d)     misled Staff in their investigation of his activities, hampering the investigation.

IIROC formally initiated the investigation into Mr. Bortolin's conduct in February 2009.  The alleged violations occurred when he was a Registered Representative at BMO Nesbitt Burns Inc., an IIROC regulated firm.  Mr. Bortolin is not currently registered with IIROC.

* * *

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:

Jeff Kehoe
Vice President, Enforcement
416.943.6996
jkehoe@iiroc.ca
        Elsa Renzella
Director, Enforcement Litigation
416.943.5877
erenzella@iiroc.ca

 


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