TORONTO, June 23 /CNW/ - Following a motion hearing held on June 15, 2009
at the Ontario Securities Commission (the "OSC"), in Toronto, Ontario, an OSC
Panel ordered the following in the matter of Julius Caesar Philip Vitug (the
(a) The motion brought by the Respondent for an Order staying the
Decision against him pending the disposition of the Hearing and
Review before the OSC is dismissed.
The Respondent sought to stay a decision of an IIROC Hearing Panel dated
March 31, 2009 which found that the Respondent had engaged in business conduct
or practice which is unbecoming or detrimental to the public interest in
violation of IDA Bylaw 29.1, pending the completion of his Hearing and Review
of that decision. The stay would also have affected a proposed hearing
concerning the penalty to be imposed upon the Respondent.
The IDA formally initiated the investigation into the Respondent's
conduct on August 4, 2005. The violation occurred when the Respondent was a
Registered Representative with the Toronto Branches of TD Waterhouse Canada
Inc. and Blackmont Capital Inc. The Respondent is still in a registered
capacity with Blackmont Capital Inc, an IIROC-regulated firm.
The OSC Panel issued its Decision and Reasons orally on June 15, 2009.
The Decision under review is available at www.iiroc.ca. For further
information about the Hearing and Review, please contact the Office of the
Secretary of the Ontario Securities Commission.
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
For further information:
For further information: Alex Popovic, Vice-President, Enforcement,
(416) 943-6904, firstname.lastname@example.org; Jeff Kehoe, Director, Enforcement, (416)