TORONTO, Feb. 24 /CNW/ - On February 17, 2009, a Hearing Panel of the
Investment Industry Regulatory Organization of Canada (IIROC) accepted a
Settlement Agreement between IIROC Staff and Credit Suisse Securities (Canada)
Inc. (the "Respondent"). Pursuant to the Settlement Agreement, the Respondent
(a) On September 17 and 18, 2008, Credit Suisse Securities (Canada) Inc.
failed to maintain risk adjusted capital at a level greater than zero
as calculated in accordance with Form 1 and thereby contravened IIROC
Dealer Member Rule 17.1.
Pursuant to the Settlement Agreement, the Hearing Panel imposed the
following penalty against the Respondent:
(a) A fine in the amount of $25,000.
IIROC formally initiated the investigation into the Respondent's conduct
on December 9, 2008.
The Hearing Panel issued its Decision on February 17, 2009, with written
reasons to follow. The Settlement Agreement and the Hearing Panel's Decision
and Reasons are 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
For further information:
For further information: Alex Popovic, Vice-President, Enforcement,
(416) 943-6904, firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement, (416)