In the matter of Daniel Murray Trenholm - Penalty
The proposed hearing concerns matters for which the Respondent will be disciplined as a Registrant of the IDA, pursuant to Part 10 of IIROC Dealer Member Rule 20.
The penalty imposed will pertain to findings that the Respondent:
1. During the period October 2001 to February 2004, failed to properly perform his role as a gatekeeper in the capital markets, contrary to Rule 29.1 (then By-law 29.1) and Rule 1300.1(a) (then Regulation 1300.1(a))when dealing with a group of related clients by: i. Facilitating certain transactional activity in five related accounts without making diligent inquiries to ensure the legitimacy of the transactions in circumstances which should have called the transactional activity into question because it was peculiar, suspicious or appeared to be consistent with market manipulation, deception or other improper market related activity; and 2. During the period October 2001 to February 2004, accepted trading instructions in respect of four client accounts from a person not authorized in writing to provide such instructions for those accounts, contrary to Association Rule 200.1(i)(3) (then, Regulation 200.1(i)(3)).
The IDA formally initiated the investigation into the Respondent's conduct in
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
For further information: For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, [email protected]; Jeff Kehoe, Director, Enforcement, (416) 943-6996, [email protected]
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