IN THE MATTER OF JAMES COREY WILTON - Settlement



    VANCOUVER, May 6 /CNW/ - On January 28, 2009, a Hearing Panel of the
Investment Industry Regulatory Organization of Canada (IIROC) accepted a
Settlement Agreement between IIROC Staff and James Corey Wilton (the
"Respondent"). Pursuant to the Settlement Agreement, the Respondent admitted
that:

    
    1.  Between September 2002 and June 2003, while a Registered
        Representative employed at the material time by a Member of the IDA,
        he 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 client's financial situations, investment knowledge,
            investment objectives and risk tolerances, contrary to
            Association by-law 29.1.

        and;

    2.  Between February and June 2003, while a Registered Representative
        employed by a Member of the Association, he engaged in business
        conduct or practice which is unbecoming or detrimental to the public
        interest by falsely attesting on a 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

        Pursuant to the Settlement Agreement, the Hearing Panel imposed the
        following penalty against the Respondent:

    1.  A fine in the amount of:

    (a) $15,000 with respect to contravention 1;

    (b) $5,000 with respect to contravention 2;

    and required the Respondent to pay costs in the amount of $5,000.
    

    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 currently employed with the Winnipeg,
Manitoba Branch of MF Global Canada Co., an IIROC-regulated firm.
    The Hearing Panel's decision and the settlement agreement 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.




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


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