IN THE MATTER OF David Harry Martin - Settlement

CALGARY, Dec. 1 /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 Friday, December 18, 2009, at the Telus Convention Center, located at 120-9 Avenue SE, Calgary, Alberta, at 9:30 am or as soon thereafter as the hearing can be held, to consider whether, pursuant to section 20.36 of IIROC Dealer Member Rule or By-Law 20.36 of the IDA, the Hearing Panel should accept a Settlement Agreement entered into between IIROC Staff and David Harry Martin (the "Respondent")

The subject matter of the proposed Settlement Agreement concerns allegations that:

    
    (1)  During January 2007, the Respondent failed to observe high standards
         of ethics and conduct in the transaction of his business and engaged
         in conduct unbecoming a registrant and/or detrimental to the public
         interest by failing to give twenty five (25) of his clients priority
         when entering trades for himself and his clients in P. Ltd. and
         M. Corp., contrary to IDA By-law 29.1;

    (2)  During January 2007, the Respondent failed to observe high standards
         of ethics and conduct in the transaction of his business and engaged
         in conduct unbecoming a registrant and/or detrimental to the public
         interest when, after making an error, the Respondent allocated
         losses to twenty five (25) of his clients, contrary to IDA By-law
         29.1;

    (3)  Between January 10 and 26, 2007, the Respondent effected four (4)
         discretionary transactions in the account of S.H., without the prior
         written authorization of S.H., and without the S.H. account being
         specifically approved and accepted in writing as a discretionary
         account, contrary to IDA Regulation 1300.4;

    (4)  Between January 15 and 31, 2007, the Respondent effected four (4)
         discretionary transactions in the account of T.P., without the prior
         written authorization of T.P., and without the T.P. account being
         specifically approved and accepted in writing as a discretionary
         account, contrary to IDA Regulation 1300.4;

    (5)  Between January 10 and February 6, 2007, the Respondent effected
         seven (7) discretionary transactions in the account of P.S., without
         the prior written authorization of P.S., and without the P.S.
         account being specifically approved and accepted in writing as a
         discretionary account, contrary to IDA Regulation 1300.4;

    (6)  Between July 29, 2004 and April 13, 2007, the Respondent failed to
         exercise due diligence to learn and remain informed of the essential
         facts relative to his client, P.S., contrary to IDA Regulation
         1300.1(a);

    (7)  Between January and February 2007, the Respondent failed to observe
         high standards of ethics and conduct in the transaction of his
         business and engaged in conduct unbecoming a registrant and/or
         detrimental to the public interest by effecting five (5) trades in
         the account of L.L. on the instructions of a third party without a
         duly executed trading authorization, contrary to IDA By-law 29.1;

    (8)  During February and/or March 2006, the Respondent engaged in outside
         business activity, by providing consulting services to T. Ltd.,
         without disclosing the activity to his Member firm employer, conduct
         of which is unbecoming a registrant and/or detrimental to the public
         interest, contrary to IDA By-law 29.1.
    

The IDA formally initiated the investigation into the Respondent's conduct on November 19, 2007. The Respondent was and continues to be a registered representative with the Calgary branch of CIBC World Markets Inc., 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: Warren Funt, Vice President, Western Canada, (604) 331-4750, wfunt@iiroc.ca; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, jkehoe@iiroc.ca


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