TORONTO, Sept. 30 /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 Thursday, November 5, 2009 at The Prince George Hotel (Room 217), located at 1725 Market St., Halifax, Nova Scotia, at 2:00pm or as soon thereafter as possible, to determine the penalty to be imposed in the matter of Daniel Murray Trenholm (the "Respondent").
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;
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
The IDA formally initiated the investigation into the Respondent's conduct in June 2006. The violations occurred when the Respondent was a Registered Representative with the Halifax, Nova Scotia branches of Lynch Investments Ltd. and Acadian Securities Inc. The Respondent is currently registered with IIROC and is employed with Jennings Capital Inc., an IIROC-regulated firm.
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.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News
For further information: For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, email@example.com; Jeff Kehoe, Director, Enforcement, (416) 943-6996, firstname.lastname@example.org