VANCOUVER, March 19 /CNW/ - On March 10, 2010, a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) accepted a Settlement Agreement between IIROC Staff and Erica Fearn (the "Respondent"). Pursuant to the Settlement Agreement, the Respondent admitted that on or about November 30, 2009, she failed to attend and give information in respect of an investigation being conducted by Staff, contrary to Dealer Member Rule 19.5.
Pursuant to the Settlement Agreement, the Hearing Panel imposed the following penalty against the Respondent:
(a) A fine in the amount of $50,000;
(b) A permanent ban on registration in any capacity with IIROC;
and required the Respondent to pay costs in the amount of $2,000.
IIROC formally initiated the investigation into the Respondent's conduct on June 20, 2008. The Respondent is no longer registered in any capacity with an IIROC-regulated firm.
The Hearing Panel issued its Reasons and Decision on March 10, 2010. The Settlement Agreement and the Hearing Panel's Decision and Reasons are 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 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, firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, email@example.com