IN THE MATTER OF Alan Ferguson Hackett - Discipline



    VANCOUVER, June 1 /CNW/ - Notice is hereby given that a hearing will be
held before a Hearing Panel of the Investment Industry Regulatory Organization
of Canada (IIROC), on Tuesday, July 21, 2009, at Reportex Agencies Ltd.,
located at 925 West Georgia Street, Suite 1010, Vancouver, BC, at 10:00 a.m.
or as soon thereafter as possible, to hear evidence and submissions in the
matter of Alan Ferguson Hackett (the "Respondent").
    The hearing concerns matters for which the Respondent may be disciplined
as an Approved Person of IIROC, pursuant to Part 10 of IIROC Dealer Member
Rule 20.

    
    The hearing concerns allegations that:

    (a) Between March 2001 and March 2007, the Respondent, at all material
        times a Registered Representative with Canaccord Capital Corporation
        ("Canaccord"), a Member firm, arranged to borrow monies, totaling
        more than $1,500,000 from eleven parties, including three Canaccord
        clients and two Canaccord registrants. He then disbursed the majority
        of these monies to one or more third parties on the understanding
        that he would receive the disbursed money plus additional monies from
        another party or parties at a later date. Having acted in this
        manner, without any reasonable understanding or explanation for the
        disbursement of monies or for the expectation of receiving monies
        from another party(s), the Respondent acted contrary to IIROC Dealer
        Member Rule 29.1; and

    (b) Between November 2002 and March 2007, the Respondent, at all material
        times a Registered Representative at Canaccord, a Member Firm, acted
        contrary to IIROC Dealer Member Rule 29.1 in that he engaged in
        personal financial dealings with three Canaccord clients by borrowing
        monies from these clients without the knowledge or prior consent of
        Canaccord.
    

    This matter was previously stayed by the Hearing Panel pending the
release of the B.C. Court of Appeal decision in IDA v. Dass. The Hearing Panel
ordered the Parties to reappear before it after the release of the Dass
decision on October 23, 2008. A motion hearing was held on January 13, 2009,
and the Panel ordered that the hearing of the matter be adjourned until July
21 and 22, 2009, due to medical issues affecting the Respondent, and that the
Respondent not be entitled to apply for registration in any capacity until the
resolution of the matter.
    IIROC formally initiated the investigation into the Respondent's conduct
on May 8, 2007. The alleged violations occurred when the Respondent was a
Registered Representative with the 609 Granville Street Branch of Canaccord.
The Respondent is no longer registered in any capacity with an IIROC Dealer
Member.
    The Notice of Hearing is available at www.iiroc.ca.
    The hearing is open to the public, unless the Hearing Panel orders
otherwise. The Hearing Panel's decision and reasons will be made available to
the public.

    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.





For further information:

For further information: Warren Funt, Vice-President, Western Canada,
(604) 331-4750, wfunt@iiroc.ca; Jeff Kehoe, Director, Enforcement, (416)
943-6996, jkehoe@iiroc.ca


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