IN THE MATTER OF James Corey Wilton - Settlement



    WINNIPEG, Jan. 16 /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 Wednesday, January 28, 2009 at The Delta Winnipeg,
Heartland Boardroom, 350 St. Mary Avenue, Winnipeg Manitoba at 10:30 a.m. or
as soon thereafter as the hearing can be held, to consider whether, pursuant
to section 20.36 of IIROC Dealer Member Rules, the Hearing Panel should accept
a Settlement Agreement entered into between Staff of IIROC and James Corey
Wilton (the "Respondent").

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

    (1) Between September 2002 and June 2003, James Corey Wilton, a
        Registered Representative employed at the material time by a Member
        of the IDA, failed to observe high standards of conduct in the
        transaction of his business and engaged in business conduct or
        practice which was detrimental to the public interest, by
        facilitating the purchase of shares of ARTI, a Canadian Controlled
        Private Corporation, by a group of clients without making any
        reasonable inquiry to determine:

        (a)  The essential facts relative to the clients;

        (b)  Whether the acceptance of purchase orders taken from these
             clients were within the bounds of good business practice; and,

        (c)  Whether the purchases were suitable for each client taking into
             account the clients' financial situations, investment knowledge,
             investment objectives and risk tolerances, contrary to by-law
             29.1.; and

    (2) Between February and June 2003, James Corey Wilton, a Registered
        Representative employed by a Member of the Association, engaged in
        business conduct or practice which is unbecoming a Registered
        Representative or detrimental to the public interest by falsely
        attesting on new client account opening documentation that he had
        seen original identification and had verified the client's signature
        against it for the Purpose of Proceeds of Crime (Money Laundering)
        legislation, contrary to Association By-law 29.1
    

    The IDA formally initiated the investigation into the Respondent's
conduct on November 30, 2005. The alleged violations occurred when the
Respondent was a Registered Representative with the Winnipeg Branch of CFG
Futures Canada Inc. which later became Refco Futures Inc., in or around
January 1, 2003. The Respondent is still within the industry in a registered
capacity at the Winnipeg office of MF Global Canada Co.
    Following a hearing on December 2, 2008 in Winnipeg, the Hearing Panel
rejected the Settlement Agreement.
    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.





For further information:

For further information: Warren Funt, Vice-President, Western Canada,
(604) 331-4750, wfunt@iiroc.ca; Jeff Kehoe, Director, Enforcement, (416)
943-6996, jkehoe@iiroc.ca


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890