TORONTO, Sept. 21, 2012 /CNW/ - The hearing scheduled before a Hearing
Panel of the Investment Industry Regulatory Organization of Canada
(IIROC) for Monday, September 24, 2012, in the matter of Harry Richard
Newman, will be a hearing to consider whether the panel should accept a
Settlement Agreement entered into between IIROC staff and Mr. Newman.
The Agreement concerns the conduct of Mr. Newman who engaged in a
practice of excessive trading in the account of one of his clients, an
The hearing is not open to the public, but will become open in the event
the panel accepts the agreement. If the Agreement is accepted, the
panel's decision and the Settlement Agreement will be made available at
Documents related to ongoing IIROC enforcement proceedings - including
Reasons and Decisions of Hearing Panels - are posted on the IIROC
website as they become available. Click here to search and access all IIROC enforcement documents.
10:00 a.m., September 24, 2012
JPR Meeting Rooms
Hearing Room A
390 Bay Street, 4th Floor
IIROC formally initiated the investigation into Mr. Newman's conduct in
November 2010. The conduct occurred when he was a Registered
Representative with a sub-branch of the Toronto branch of Mackie
Research Capital Corporation, an IIROC-regulated firm. Mr. Newman is
currently registered with Foster & Associates Financial Services Inc.,
an IIROC-regulated firm.
* * *
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.
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, permanent bars,
expulsion from membership, or termination of rights and privileges 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.
SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information:
Vice President, Enforcement
Director, Public Affairs