VANCOUVER, Oct. 22 /CNW/ - The Decision on penalty of a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), issued January 27, 2009, and revised decision issued April 20, 2009, in the matter of Dustin Rene John Lamontagne (IIROC Decision), was reviewed by a hearing panel of the Alberta Securities Commission. The review proceeded as an appeal on the record, and no oral hearing was held.
The Hearing Panel of the Alberta Securities Commission released its decision on October 1, 2009:
(a) confirming the IIROC Decision;
With the exceptions of:
(b) setting aside the costs order in the amount of $15,000; and
(c) granting the Appellant, Lamontagne, until October 1, 2010 to pay the
fine of $35,000.00, imposed pursuant to the IIROC Decision.
IIROC formally initiated the investigation into the Respondent's conduct on June 4, 2007. The violations occurred when the Respondent was a Registered Representative with the Edmonton Branch of CIBC Investor Services Inc. The Respondent is no longer registered with an IIROC-regulated firm.
To obtain a copy of the ASC decision, please refer to: http://www.albertasecurities.com/Pages/Default.aspx
The IIROC Hearing Panel's Decision and Reasons are available at http://docs.iiroc.ca/DisplayDocument.aspx?DocumentID=CB5CB126E810462B8D78949F49022F21&Language=en .
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, email@example.com; Jeff Kehoe, Director, Enforcement, (416) 943-6996, firstname.lastname@example.org