CALGARY, April 19, 2016 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) in the matter of Edward Peter Bodnarchuk.
The hearing concerns allegations that Mr. Bodnarchuk failed to know his client, made unsuitable recommendations, and made discretionary trades in his client's accounts.
The hearing is open to the public unless the 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.
May 9, 10, 11, 2016, at 10:00 a.m. CT
Radisson Hotel Winnipeg
12th Floor, Ambassador D
288 Portage Avenue
Specifically, the allegations are that:
IIROC formally initiated the investigation into Mr. Bodnarchuk's conduct in October 2013. The alleged violations occurred while he was a Registered Representative with the Winnipeg branch of National Bank Financial Ltd., an IIROC-regulated firm. Mr. Bodnarchuk is currently a Registered Representative at the Winnipeg branch of PI Financial Corp, an IIROC-regulated firm.
- Between July 2008 and November 2012, Mr. Bodnarchuk failed to use due diligence to learn and remain informed of the essential facts relative to one client, contrary to Dealer Member Rule 1300.1(a);
- Between July 2008 and November 2012, Mr. Bodnarchuk made unsuitable recommendations for the account of one client, contrary to Dealer Member Rule 1300.1(q); and
- Between July 2008 and November 2012 Mr. Bodnarchuk made discretionary trades in the accounts of one client, contrary to Dealer Member Rule 1300.4.
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 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 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, firstname.lastname@example.org; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, email@example.com