Enforcement Notice - Hearing - IN THE MATTER OF Darin Lee Chung - Discipline Hearing

VANCOUVER, Aug. 5, 2015 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Darin Lee Chung.

The hearing concerns allegations that Mr. Chung engaged in personal financial dealings with a client and made unsuitable investment recommendations to the same client.

The hearing is open to the public, unless the Hearing Panel orders otherwise. The decision of the Hearing Panel 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.

Hearing Date: 

October 6, 2015 at 10:00 am


Reportex Agencies Ltd.

1010 – 925 West Georgia Street

Vancouver, British Columbia


Specifically, the allegations are that:


From January 2010 through December 2011, Mr. Chung made unsuitable investment recommendations to a client, contrary to IIROC Dealer Member Rule 1300.1(q);


On June 9, 2009, Mr. Chung engaged in personal financial dealings with a client when he borrowed $10,000 from that client, contrary to IIROC Dealer Member Rule 29.1; and


Since July 9, 2009, Mr. Chung has been in continuous breach of IIROC Dealer Member Rule 29.1 for failing to repay money he borrowed from a client.


IIROC formally initiated the investigation into Mr. Chung's conduct in February 2013. The alleged violations occurred while he was a Registered Representative with the Delta, British Columbia branch of Raymond James Ltd., an IIROC-regulated firm.  Mr. Chung is no longer a registrant with an IIROC-regulated firm.

The Notice of Hearing which sets out the allegations is available at:


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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: Enforcement Contact: Warren Funt, Vice President, Western Canada, 604 331-4750, wfunt@iiroc.ca; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, karcher@iiroc.ca


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