TORONTO, Aug. 12 /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 Michael Jeffrey Bereskin.
The agreement concerns allegations that Mr. Bereskin handled a client account in a manner that failed to meet his know-your-client obligations.
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 www.iiroc.ca.
Hearing Date: 10 am, August 27, 2010
Location: Legal Transcript Services
390 Bay Street, Suite 1102, Toronto
The allegations in the agreement are that Mr. Bereskin failed to use due diligence to learn and remain informed of the essential facts relative to a client, a breach of IDA Regulation 1300.1(a) (now IIROC Dealer Member Rule 1300.1(a)).
The alleged violation occurred between November 2004 and February 2008, while Mr. Bereskin was a Registered Representative at Blackmont Capital Inc. in Toronto. He is currently a Registered Representative with a Toronto branch of BMO Nesbitt Burns Inc. Blackmont and BMO Nesbitt Burns are IIROC-regulated firms.
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: Jeffrey Kehoe, Vice President, Enforcement, 416.943.6996, email@example.com