IIROC announces disciplinary hearing for Gary Voncina

CALGARY, Aug. 20 /CNW/ - A hearing has been scheduled before a Hearing Panel of the Investment Industry Regulatory Organization of Canada to consider whether the panel should accept a settlement agreement between IIROC staff and Gary Voncina.

The agreement concerns allegations that Mr. Voncina made unauthorized and discretionary trades as well as engaged in personal financial dealings with clients.


Hearing Date:      9:30 am, September 23, 2010
     
Location:   Telus Room 104
    Calgary Telus Convention Centre
    120-9th Avenue SE, Calgary, AB

The hearing will not be open to the public, but will become open in the event the panel accepts the agreement. If the agreement is accepted, the panel's decision and reasons will be made available at href="http://www.iiroc.ca/English/Pages/home.aspx">www.iiroc.ca.

The allegations in the agreement are that Mr. Voncina:


       (a)     Bought and sold shares without the authorization of his client, thus engaging in conduct unbecoming or detrimental to the public interest contrary to IDA By law 29.1 (now IIROC Rule 29.1);
  (b)   Engaged in personal financial dealings with 3 clients, without disclosing same to the Member firm, contrary to IDA By law 29.1(now IIROC Rule 29.1); and
  (c)   Engaged in discretionary trading in a client's account, contrary to IDA Regulation 1300.4 (now IIROC Rule 1300.4).

The Investment Dealers Association (IDA now part of IIROC) began the investigation into Mr. Voncina's conduct in 2007. The alleged violations occurred between the fall of 2005 and January 2007, while Mr. Voncina was a Registered Representative at TD Waterhouse Canada Inc. in Calgary. Mr. Voncina is not currently registered with 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                                            Jeff Kehoe
Vice President, Western Canada        Vice President, Enforcement
604.331.4750   416.943.6996
wfunt@iiroc.ca   jkehoe@iiroc.ca


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