IN THE MATTER OF Sarkis Sarkissian - Discipline

MONTRÉAL, Oct. 28 /CNW/ - Following a disciplinary hearing held March 17, 18, 19 and 20, April 28 and 29, May 1, 2 and 14, June 2, 3, 4, 18, 19 and 20, and March 20, 2009, in Montréal (Québec), a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC) has found Sarkis Sarkissian (the Respondent):

    
    (a) guilty of Counts 1 to 44, which have been grouped as follows for the
        purposes of this notice:

        ---------------------------------------------------------------------
        Counts 1 to 5           Failure to learn and remain informed of the
                                essential facts relative to his clients
        ---------------------------------------------------------------------
        Counts 6 to 13 and      Transactions not permitted under the terms of
        23 to 39                the approval granted by IIROC to the
                                Respondent as a registered representative
                                (mutual funds)
        ---------------------------------------------------------------------
        Counts 14 to 17         Failure to use due diligence when accepting
                                instructions given by a mandatary
        ---------------------------------------------------------------------
        Counts 18 to 22 and 40  Participation in a stratagem
        ---------------------------------------------------------------------
        Counts 41 and 42        Off-book transactions not recorded in the
                                books of iForum
        ---------------------------------------------------------------------
        Counts 43 and 44        Failure to provide the information required
                                by IIROC
        ---------------------------------------------------------------------
    

IIROC formally initiated the investigation into the Respondent's conduct in November 2005. The violations occurred when the Respondent was a Registered Representative (mutual funds) at the Montréal branch of iForum Securities Inc. Mr. Sarkissian has not been employed with an IIROC-regulated firm since August 10, 2006.

The Hearing Panel issued its Decision and Reasons on September 16, 2009. A separate hearing will be held to determine the penalties to be imposed in the matter.

The Hearing Panel's Decision and Reasons 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.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News

For further information: For further information: Carmen Crépin, Vice President, Québec, (514) 878-2854, ccrepin@iiroc.ca; Jeff Kehoe, Director, Enforcement, (416) 943-6996, jkehoe@iiroc.ca


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