IIROC announces settlement hearing for James Darren Delcourt and James Alexander Stewart

VANCOUVER, Nov. 18, 2011 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), to consider whether the Hearing Panel should accept a Settlement Agreement entered into between Staff of IIROC and James Darren Delcourt and James Alexander Stewart.

The agreement concerns allegations that Mr. Delcourt and Mr. Stewart conducted themselves as portfolio managers without being registered as such; and made investments for clients that had no clear economic benefit.

The hearing is not open to the public unless and until the Settlement Agreement has been accepted by the Hearing Panel. If the agreement is accepted, the Panel's decision and reasons, together with the Settlement Agreement, will be made available at www.iiroc.ca.

Hearing Date:  December 6, 2011, 10:00 am
   
Location:   Calgary TELUS Convention Centre
  120-9 Ave SE,
  Calgary
  Room: Glen 205 (South building)

IIROC formally initiated the investigation into Mr. Delcourt and Mr. Stewart's conduct in March 2010. The alleged violations occurred when Mr. Delcourt and Mr. Stewart were Registered Representatives with the Calgary branch of Mackie Research Capital Corporation, an IIROC regulated firm.  Mr. Delcourt and Mr. Stewart continue to be registered in the same capacity at the same 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

For further information:

Warren Funt
Vice President, Western Canada
604 331-4750
wfunt@iiroc.ca
Elsa Renzella
Director, Enforcement Litigation
416.943.5877
erenzella@iiroc.ca

 


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