IN THE MATTER OF Deutsche Bank Securities Ltd - Set Date
The proposed hearing concerns matters for which the Respondent may be disciplined as an IIROC Dealer Member, pursuant to Part 10 of IIROC Dealer Member Rule 20.
The hearing concerns allegations that:
1. During the period between July 25 and August 13, 2007, the Respondent failed to observe high standards of ethics and conduct in the transaction of their business, and/or engaged in business conduct or practice which is unbecoming or detrimental to the public interest contrary to IDA By-law 29.1 in that it failed to act fairly, honestly and/or in good faith to its clients by not disclosing the information relating to US subprime and the liquidity risk in third-party asset- backed commercial paper (ABCP) to all of its clients who had invested or were interested in investing in third-party ABCP, while continuing to sell third-party ABCP to its clients. 2. Between March and August 2007, the Respondent failed to ensure proper regulatory compliance oversight of third-party ABCP, contrary to IDA Policy 5.
IIROC formally initiated the investigation into the Respondent's conduct on
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. The Notice of Hearing 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
For further information: Alex Popovic, Vice President, Enforcement, (416) 943-6904, [email protected]; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, [email protected]
Share this article