VANCOUVER, April 14 /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 April 19, 2010 at the Calgary Telus Convention Centre located at 120-9 Avenue SE, Calgary, Alberta, at 10:00 am 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 IIROC Staff and Ross Patrick Ewaniuk (the "Respondent").
The subject matter of the proposed Settlement Agreement concerns allegations that:
(a) Between 2004 and 2006, while employed as a Registered Representative
at Northern Securities Inc., the Respondent failed to properly
perform his role as gatekeeper in the capital markets, by
facilitating and participating in transactions involving SSTY, TNGO
and/or VTYC (the Securities), in four (4) client accounts and the
Respondent's corporate investment account, without making adequate
inquiries as to whether or not:
(i) the Securities were eligible to be distributed by the seller
(ii) the Securities were eligible for purchase or receipt by the
clients and the Respondent's corporate investment account; and
(iii) the Securities were eligible for sale into the market,
in accordance with the Alberta Securities Act and/or the British Columbia Securities Act, thereby engaging in conduct unbecoming or detrimental to the public interest, contrary to IDA By-law 29.1.
The IDA formally initiated the investigation into the Respondent's conduct on July 6, 2006. The violations occurred when the Respondent was a Registered Representative with the Calgary Branch of Northern Securities Inc. The Respondent is not currently registered 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.
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: 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