IN THE MATTER OF Ian Douglas Sauder - Discipline

TORONTO, March 12 /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 Monday, May 3, 2010 at IIROC Boardroom 2, at 121 King Street West, Suite 1600, Toronto, Ontario, at 10:00 am or as soon thereafter as possible, to hear evidence and submissions in the matter of Ian Douglas Sauder (the "Respondent").

The hearing concerns matters for which the Respondent may be disciplined as a Regulated Person of IIROC pursuant to Part 10 of IIROC Dealer Member Rule 20.

The hearing concerns allegations that:

    
    i.   Between July 2005 and December 2008, while employed as a Registered
         Representative by Union Securities Ltd, the Respondent produced to
         clients falsified monthly account statements that misrepresent the
         holding and activities of clients' accounts, thereby engaging in
         conduct unbecoming and/or detrimental to the public interest,
         contrary to IIROC Dealer Member Rule 29.1;

    ii.  Between June 2005 and May 2008, while employed as a Registered
         Representative by Union Securities Ltd, the Respondent forged
         clients' signatures on account documents and instructions without
         the knowledge or consent of the client, thereby engaging in conduct
         unbecoming and/or detrimental to the public interest, contrary to
         IIROC Dealer Member Rule 29.1;

    iii. Between January 8, 2008 and October 27, 2008, while employed as a
         Registered Representative by Union Securities Ltd, the Respondent
         conducted eight unauthorized transactions in the account of clients
         J, M, and PM, thereby engaging in conduct unbecoming and/or
         detrimental to the public interest, contrary to IIROC Dealer Member
         Rule 29.1;

    iv.  Between June 2005 and December 2008, while employed as a Registered
         Representative by Union Securities Ltd, the Respondent concealed
         from his employer the fact that client SS was his spouse and that
         the Respondent was a beneficial owner of the account, misrepresented
         his relationship with SS to his firm by producing a document which
         he represented to the firm as a court document, and controlled and
         conducted transactions in SS's account, thereby engaging in conduct
         unbecoming and/or detrimental to the public interest, contrary to
         IIROC Dealer Member Rules 29.1 and 1300.1(b); and

    v.   On or about October 7, 2009, the Respondent, refused and/or failed
         to attend and give information in respect of an investigation being
         conducted by Staff, contrary to IIROC Dealer Member Rule 19.5.
    

The IDA formally initiated the investigation into the Respondent's conduct on April 15, 2009. It is alleged that the violations occurred when the Respondent was a Registered Representative with the Toronto Branch of Union Securities Ltd., an IIROC-regulated firm. The Respondent is no longer a registrant with 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. 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 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, apopovic@iiroc.ca; Jeff Kehoe, Director, Enforcement Litigation, (416) 943-6996, jkehoe@iiroc.ca


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