CALGARY, May 12 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada to hear evidence in the matter of David Charles Parkinson. The matter concerns allegations Mr. Parkinson breached Universal Market Integrity Rules (``UMIR'') by failing in his gatekeeper obligation to be aware of and alert to manipulative and deceptive trading activity.
The hearing is open to the public, unless the Hearing Panel orders otherwise. The Notice of Hearing is available on IIROC's website and the Hearing Panel's decision and reasons will be made public when available.
Hearing Date: 10 am, November 15, 2010
Location: Calgary TELUS Convention Centre
Room 103, 120-9 Ave SE, Calgary
The hearing concerns allegations that Mr. Parkinson entered orders and executed trades on the TSX Venture Exchange of Covalon Technologies Ltd. (ticker: COV) and Digger Resources Inc. (ticker: DIG) that he knew or ought reasonably to have known would or could reasonably be expected to create an artificial bid price and/or sale price for the securities, contrary to UMIR 2.2(2)(b) and UMIR Policy 2.2, for which he is liable under UMIR 10.4(1).
The alleged activity took place between July, 2007 and April, 2008. IIROC began the investigation into Mr. Parkinson's conduct in August 2008. The violations occurred when he was a Registered Representative at the Edmonton branch of CIBC World Markets Inc., an IIROC-regulated firm. He is currently a Registered Representative at the Edmonton branch of Canaccord Capital Corporation, 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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Warren Funt, Vice President, Western Canada, (604) 331-4750, firstname.lastname@example.org; Jeff Kehoe, Acting Vice President, Enforcement, (416) 943-6996, email@example.com