IN THE MATTER OF Antonio Cornacchia - Settlement

TORONTO, Feb. 12 /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 February 24, 2010 at the IIROC office, located at 121 King Street West, Suite 1600, Toronto, Ontario, at 10:00 a.m. or as soon thereafter as the hearing can be held, to consider whether, pursuant to section 20.36 of IIROC Dealer Member Rule 20, the Hearing Panel should accept a Settlement Agreement entered into between Staff of IIROC and Antonio Cornacchia (the "Respondent").

The subject matter of the proposed Settlement Agreement concerns allegations that between November 2005 and August 2006, the Respondent engaged in conduct unbecoming contrary to IDA By-law 29.1 by:

    
        (a)   the improper use of a client's cheque;

        (b)   transferring of funds from various client accounts to other
              client accounts; and

        (c)   causing an account to be opened without the client's knowledge.
    

The IDA formally initiated the investigation into the Respondent's conduct in the fall of 2006. It was alleged that the violations occurred when the Respondent was a Registered Representative with the Woodbridge Branch of TD Waterhouse Canada Inc. The Respondent is no longer a registrant with an IIROC-regulated firm.

The hearing is not open to the public unless and until the Settlement Agreement has been accepted by the Hearing Panel. If the Hearing Panel accepts the Settlement Agreement, 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.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information: For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, apopovic@iiroc.ca; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, jkehoe@iiroc.ca


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