Enforcement Notice - IN THE MATTER OF Alberto Tassone - Appearance to set a hearing date

VANCOUVER, April 26, 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 Alberto Tassone.

The discipline hearing concerns allegations that Mr. Tassone conducted an unauthorized business activity for which he received remuneration without the approval of his firm.  In addition, the hearing concerns allegations that Mr. Tassone provided misleading information to IIROC.

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:   

May 2, 2016 at 10:00 a.m.



Location:              

Charest Reporting


885 West Georgia Street


16th Floor


Vancouver, BC

Specifically, the allegations are that:

(a)

From 2003 to the present, Mr. Tassone participated in and managed an investment in oil and gas wells in the United States (the "JED Energy Investment") without the prior knowledge or approval of his Dealer Member firm and thereby





(i)   

acted contrary to Dealer Member Rules 18.14 and 29.1 (IDA by-law 29.1 prior to June 1, 2008) by conducting an unauthorized outside business activity; and





(ii) 

acted contrary to Dealer Member Rule 18.15 by accepting remuneration directly from someone other than his Dealer Member firm or its affiliates or related companies.





(b)

In October 2014, Mr. Tassone misled IIROC Staff by:





(i)        

providing misleading information concerning the extent of his personal financial interest in the JED Energy Investment;





(ii)      

providing misleading information concerning his status as an officer and Director of one of the constituent corporate entities of the JED Energy Investment; and





(iii)

providing misleading information concerning the existence of bank accounts in the name of JED Energy Ventures;




and thereby acted contrary to Dealer Member Rules 19.6 and 29.1 (IDA by-law 29.1 prior to June 1, 2008).

IIROC formally initiated the investigation into Mr. Tassone's conduct in November 2013. The alleged violations occurred while he was a Registered Representative with the Delta branch of Raymond James Ltd., an IIROC-regulated firm. Mr. Tassone is currently a registered representative with the Vancouver branch of Mackie Research Capital Corporation, an IIROC-regulated firm.

The Notice of Hearing which sets out the allegations is available at: http://www.iiroc.ca/Documents/2016/e3f515be-fa0f-4eff-923f-980de4482265_en.pdf.

*  *  *

IIIROC 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, wfunt@iiroc.ca; Media Contact: Karen Archer, Manager, Media Relations, 416 865-3046, karcher@iiroc.ca

RELATED LINKS
http://www.iiroc.ca

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