TORONTO, Sept. 25 /CNW/ - Notice is hereby given that this matter will be brought back before a Hearing Panel of the Investment Industry Regulatory Organization of Canada (IIROC), on Tuesday, September 29, 2009 at IIROC located at 121 King St. West, Suite 1600, Toronto, Ontario, at 10:30am or as soon thereafter as the appearance can be held, to speak to the matter of a disciplinary hearing in the matter of Stephen Taub (the "Respondent").
The proposed hearing concerns matters for which the Respondent may be disciplined as a Regulated Person of IIROC, pursuant to Part 10 of IIROC Dealer Member Rule 20.
The hearing concerns allegations that the Respondent:
(a) Between November 1998 and June 2003 (the "Material Time"), the
Respondent engaged in conduct unbecoming contrary to
Association By-law 29.1 in that he failed in his role as
gatekeeper and facilitated certain trading activity for certain
clients including trading activity that appeared to be or was
consistent with market manipulation or deception and improper
control block distributions;
(b) During the Material Time, the Respondent engaged in conduct
unbecoming contrary to Association By-law 29.1 in that he
circumvented IDA and SEC rules by opening accounts and accepting
orders from clients outside his jurisdiction of registration;
(c) During the Material Time, the Respondent engaged in conduct
unbecoming contrary to Association By-law 29.1 in that he provided
confidential account information to, and accepted instructions
from, individuals who were not the registered account holders and
had no connection with the account; and
(d) During the Material Time, the Respondent engaged in conduct
unbecoming contrary to Association By-law 29.1 in that he misled
his Member Firm with respect to the involvement in certain
accounts of certain individuals.
The IDA formally initiated the investigation into the Respondent's conduct on July 2001. It is alleged that the violations occurred when the Respondent was a Registered Representative with the Toronto Branches of Brant Securities Limited and Research Capital Corporation. The Respondent is no longer a registrant with an IIROC-regulated firm.
The hearing is open to the public, unless the Hearing Panel orders otherwise.
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: Alex Popovic, Vice President, Enforcement, (416) 943-6904, email@example.com; Jeff Kehoe, Director, Enforcement, (416) 943-6996, firstname.lastname@example.org