TORONTO, Sept. 1, 2016 /CNW/ - An appearance has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) for the purpose of setting a date for the disciplinary hearing in the matter of Aidin Sadeghi.
The discipline hearing concerns allegations that Mr. Sadeghi entered orders that he knew, or ought reasonably to have known, would create, or could reasonably be expected to create, a false or misleading appearance of trading activity in or interest in the purchase or sale of the securities.
The set date appearance is open to the public, unless the Hearing Panel orders otherwise. The date for the discipline hearing will be made available at www.iiroc.ca.
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.
Set Date Appearance: Tuesday, September 6, 2016 at 1:00 p.m.
Location: IIROC, 2000-121 King Street West, Quebec Room, Toronto, ON
Specifically, the allegations are that:
(a) Between December 2012 and January 2013 Mr. Sadeghi, while employed as a proprietary trader at W.D. Latimer Co. Ltd., entered orders that he knew, or ought reasonably to have known, would create, or could reasonably be expected to create, a false or misleading appearance of trading activity in or interest in the purchase or sale of the securities, contrary to Universal Market Integrity Rule ("UMIR") 2.2(2) and UMIR Policy 2.2, for which he is liable under UMIR 10.4(1).
IIROC formally initiated the investigation into Mr. Sadeghi's conduct in May 2013. The alleged violations occurred while he was a registered representative and proprietary trader with W.D. Latimer Co. Ltd., an IIROC-regulated firm. Mr. Sadeghi is currently employed with W.D. Latimer Co. Ltd.
The Notice of Hearing which sets out the allegations is available at: http://www.iiroc.ca/Documents/2016/7447a4f4-fea0-4276-bee6-94618f4070d3_en.pdf.
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IIROC is the national self-regulatory organization which oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian 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
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