IN THE MATTER OF Antonio Cornacchia - Settlement

TORONTO, March 12 /CNW/ - On Wednesday February 24th, 2010, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement between IIROC Staff and the Respondent Antonio Cornacchia (the "Respondent"). Pursuant to the Settlement Agreement, the Respondent admitted that:

    
    Count 1:  On or about November 2005, the Respondent used a cheque signed
              by client JCP for an improper purpose, namely to pay another
              TDW client, thereby constituting conduct unbecoming, contrary
              to IDA By law 29.1.

    Count 2:  During January to August 2006, the Respondent transferred funds
              from various client accounts to other client accounts, without
              the clients' full knowledge or consent, thereby constituting
              conduct unbecoming, contrary to IDA By law 29.1.

    Count 3:  On or about August 2006 the Respondent caused an account to be
              opened without client CT's knowledge or consent, thereby
              constituting conduct unbecoming, contrary to IDA By law 29.1.
    

Pursuant to the Settlement Agreement, the Hearing Panel imposed the following penalty against the Respondent:

A permanent ban on approval of registration in any capacity with IIROC.

The Investment Dealers Association (IDA) formally initiated the investigation into the Respondent's conduct in October 2006. 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. This matter was reported to the police of local jurisdiction.

The Hearing Panel will issue its Reasons and Decision in due course. The Settlement Agreement is available at www.iiroc.ca

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


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890