VANCOUVER, May 28 /CNW/ - Notice is hereby given that a settlement hearing will be held before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), on Wednesday, June 2, 2010 at Reportex Agencies Ltd., located at 925 West Georgia Street, Suite 1010, Vancouver, BC, at 10:00 a.m., to consider whether under section 20.36 of IIROC Dealer Member Rule, the Hearing Panel should accept a Settlement Agreement entered into between IIROC Staff and Karen Marie Young (the Respondent). The set date hearing scheduled for Tuesday, May 25, 2010, was cancelled by consent of the parties.
The proposed Settlement Agreement concerns allegations that between June 2004 and June 2006, while employed as a Registered Representative (RR) by Golden Capital Securities Ltd. (Golden), a Member firm, the Respondent acted contrary to Dealer Member Rule 1300.1(a) by failing to take sufficient steps to learn the essential facts relative to her client.
IIROC formally initiated the investigation into the Respondent's conduct on September 11, 2006. The alleged violations occurred when the Respondent was an RR with the 1177 West Hastings Street, Vancouver offices of Golden. The Respondent is no longer a registrant with an IIROC-regulated firm.
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.
IROC 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, Acting Vice President, Enforcement, (416) 943-6996, email@example.com