TORONTO, May 17 /CNW/ - A Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) will meet to set a date for a hearing into the matter of Ronald David Stoneburg. The matter concerns allegations of the misappropriation of client funds and forgery on the part of Mr. Stoneburg. The hearing to set the date is open to the public, unless the Hearing Panel orders otherwise. The Notice of Hearing is available here.
Hearing Date: 9 am May 27, 2010.
Location: Boardroom 2, 121 King St. W., Suite 1600
The hearing concerns allegations Mr. Stoneburg violated IIROC Rule 29.1 by engaging in business conduct unbecoming or detrimental to the public interest in the following instances:
1. He misappropriated approximately $150,000 from two clients, when he
was a Registered Representative at Canaccord Capital Corp.
2. He misappropriated in excess of $200,000 from approximately 11
clients, when he was an employee and later a Registered
Representative at yourCFO Advisory Group Inc.
3. He forged the signature of a client and endorsed the client's cheque
to himself, when he was a Registered Representative with yourCFO
Advisory Group Inc.
IIROC began the investigation into Mr. Stoneburg's conduct on May 14, 2009. The violations occurred between September, 2006 and May, 2009. Canaccord Capital and yourCFO Advisory Group are IIROC-regulated firms. Mr. Stoneburg is no longer a registrant 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: Jeff Kehoe, Acting Vice President, Enforcement, (416) 943-6996, firstname.lastname@example.org